FX.co ★ iPhone sales boost Apple shares

On September 23, during the opening of the US trading session Apple shares grew 6%.

The investors rushed to purchase the company’s shares amid Apple claims to have sold

more than 9 million of its newest iPhones over the weekend.

Now Apple shares are trading lower than $500 per share, which is the highest since

early September. However, it is far from the historical high of $700 which was reached

in the second half of 2012.

Nevertheless, the boost of Apple shares allowed the company to strengthen its

positions as the most valuable public company in the world. Apple’s capitalization

is estimated at $450 billion. Oil Corporation ExxonMobil is its major opponent with

capitalization of $400 billion.

Bloomberg was the first to announce Apple sold 9 million iPhones 5s and 5c; it cited

the calculations made by Apple. Experts estimated the figures would be 5-7.5 million

phones.

Apple introduced iPhone 5s and 5c in early September and they started to be released

on September 20. It should be noted that after the presentation of new smartphones

the company’s shares dropped and now it reversed to the figures of the beginning of the month. Only for 30 days starting from the end of August, Apple’s shares lost

approximately one percent.