×

Apple Sells 9 Mil New iPhones Over Weekend, Stock Surges

Apple said it sold a record 9 million new iPhone 5s and iPhone 5c smartphones in three days — and depleted its stock of the higher-end 5s models — with shares opening 6% higher Monday.

The company also said more than 200 million iOS devices have upgraded to iOS 7, which Apple claimed makes it fastest software upgrade in history.

Apple now expects revenue for its fourth fiscal quarter ended Sept. 28 to be near the high end of its previous guidance of $34 billion to $37 billion, the company said in a filing Monday with the Securities and Exchange Commission.

Still, Apple’s stock is below levels prior to the announcement of the iPhone 5s and 5c. The stock closed at $506.17 per share on Sept. 9, and opened Monday at $496 per share.

Many Wall Street analysts had predicted iPhone sales would be around 6 million over the three-day weekend period. The stronger-than-expected showing for the debut of the iPhone 5s and 5c comes after Apple lost some $34 billion in market cap value from Sept. 10 to 11 following the announcement of the new iPhones, as investors were expecting cheaper phones for emerging markets like China and possibly a new product line like a TV.

SEE ALSO: Apple iPhone 5s and 5c Debut Leads to Long Lines, At Least One Brawl

Apple’s previous single-weekend record for iPhone sales was 5 million for the iPhone 5 last September.

Before the new iPhones went on sale at 8 a.m. Friday local time worldwide, long lines queued up at Apple Stores with particularly strong demand for the gold and “space grey” versions of the iPhone 5s. The 5s also features a new fingerprint reader that can unlock the phone.

“The demand for the new iPhones has been incredible, and while we’ve sold out of our initial supply of iPhone 5s, stores continue to receive new iPhone shipments regularly,” Apple CEO Tim Cook said in a statement. “We appreciate everyone’s patience and are working hard to build enough new iPhones for everyone.”

The iPhone 5s comes in gold, silver and what Apple calls “space gray,” for list prices of $199 for the 16-gigabyte model, $299 for 32 GB and $399 for 64 GB, with a two-year wireless contract. The iPhone 5c comes in blue, green, pink, yellow and white, priced at $99 for the 16 GB model and $199 for 32 GB, also with a two-year plan.

Popular on Variety

More Biz

  • Barron HiltonBarron Hilton 1990

    Famed Hotelier Barron Hilton Dies at 91

    Barron Hilton, a famed hotelier who helped expand the Hilton Hotels empire and a founding owner of the Chargers NFL football team, has died, the Conrad N. Hilton Foundation announced. He was 91. “Today the world of hospitality mourns for one of the greats. Barron Hilton was an incredible family man, business leader and philanthropist. [...]

  • Patrick Whitesell and Ari Emanuel WME

    Endeavor Targets Sept. 27 for Stock Debut, IPO Video Tells Company's Origin Story

    After years of preparation, Endeavor is set to make its formal Wall Street debut on Sept. 27, when its stock will begin trading on the New York Stock Exchange. Endeavor has targeted Sept. 26 for the final pricing of its shares. The stock will trade publicly the following day. Earlier this week, Endeavor said its [...]

  • Netflix - Apple TV

    Netflix Stock Drops After CEO Acknowledges 'Tough Competition' Coming From Disney, Apple

    Netflix shares fell as much as 7% Friday to a nine-month low, coming after CEO Reed Hastings commented that the November launches of Disney Plus and Apple TV Plus will introduce a “whole new world” of competition. Hastings, speaking at the Royal Television Society conference Friday in Cambridge, England, said, “While we’ve been competing with [...]

  • Charlie Rose Sexual Harassment

    Charlie Rose Sued for Sexual Harassment by Longtime Makeup Artist

    A makeup artist who worked for Charlie Rose for 22 years has filed a sexual harassment lawsuit, accusing the former CBS and PBS host of years of unlawful behavior toward female employees. Gina Riggi alleges that Rose was verbally abusive with her and would often make derogatory comments about her weight. She also alleges that [...]

  • Rob Stringer

    Sony Music Chief Rob Stringer on Sustaining Growth and Recovering From the 'Dark Times'

    The Goldman Sachs Communacopia conference, now in its 28th year, gives top executives at major companies the opportunity to make their case to investors — and the Goldman analysts the opportunity to keep things on the up and up. While the analysts don’t necessarily grill the executives, they don’t lob softball questions either. That was [...]

  • Frank Grillo'Avengers: Endgame' Film Premiere, Arrivals,

    Matt Phelps Tapped as President of Joe Carnahan, Frank Grillo's Warparty

    Frank Grillo and Joe Carnahan’s Warparty productikon banner has appointed Matt Phelps president of the company. Phelps will head the Los Angeles office and be responsible for overseeing all film and television projects. “We searched long and hard to find the right fit for Warparty and felt that Matt embodied everything that we were looking [...]

  • Jack Gilardi, Longtime ICM Partners Agent,

    Jack Gilardi, Longtime ICM Partners Agent, Dies at 88

    Jack Gilardi, a longtime ICM Partners agent who represented such stars as Burt Reynolds, Sylvester Stallone, Jerry Lewis, Charlton Heston and Shirley MacLaine, died Thursday at his home in Los Angeles. He was 88. Gilardi was known for his gentlemanly style, love of the Los Angeles Dodgers and his skill at representing top actors. He [...]

More From Our Brands

Access exclusive content