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Latest iPhone 5S sales send Apple shares soaring

Apple's shares have soared about 4.5% since the smartphone started selling from September 20


As the latest iPhone5S' sales rise high, Apple's shares have soared about 4.5% since the smartphone started selling from September 20.

The tech giant's shares rose 2.4% on Tuesday to close at 487.96 dollars and it is the first iPhone launch since 2009 that saw the stock price increase after the following seven trading days.

According to the New York Post, Apple's double iPhone launch was quickly consumed by fans as the company reported shortage of stocks within the week the standard iPhone5S and low-cost 5C went on sale.

The sales reached 9 million in three days, beating the previous iPhone 5 opening weekend last year that did 5 million is sales.

With rivals like Samsung getting major share of the market, Apple had been losing out on the global smartphone market share, however, the latest iPhones is expected to firm the tech giant's stand in the industry.

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First Published: Thu, October 03 2013. 10:38 IST