SAN FRANCISCO – Gadget lovers still cant resist the iPhones seductive call, even amid a bevy of enticing lower-priced alternatives that offer similar features.
In a Monday announcement, Apple Inc. said it sold 9 million of its top-of-the-line iPhone 5S and less-expensive iPhone 5C during their first three days on sale. That trounced the performance of last years model, the iPhone 5, which sold 5 million units in its opening weekend.
The initial sales figures for Apples latest iPhone models provided the latest testament to the products enduring appeal more than six years after the debut of the first iPhone triggered a mobile computing revolution.
The iPhone 5S and 5Cs quick start also surpassed analyst forecasts that predicted Apple would sell from 6 million to 8 million models during the first weekend.
The demand for the new iPhones has been incredible, Apple CEO Tim Cook crowed. As part of the companys effort to drum up interest in its most profitable product, Cook made an early morning appearance at an Apple store in Palo Alto, Calif., on Friday when the new iPhones first went on sale.
Mondays news helped generate more interest in Apples stock. The shares gained $23.23 to close at $490.64.
Despite that rally, Apples stock price remains slightly below where it stood before the Cupertino, Calif., companys Sept. 10 unveiling of its latest iPhones.
The downturn reflects concerns that the new phones wont be enough to reverse a slowdown in Apples revenue growth that has been brought on by tougher competition from Samsung Electronics and others. Apples rivals have been gaining market share by selling less expensive phones running on Google Inc.s free Android software. Those nagging worries are the main reason that Apples market value has sagged by about 30 percent, or $200 billion, since last years release of the iPhone 5.