Apple Stock Rides the iPhone Wave

by , 8:35 AM EDT, July 5th, 2007

Since Apple released the iPhone on June 29, both customers and investors have been pleased with the device's performance, and that is showing in the company's stock. Apple's stock began a steady climb after the launch, closed Tuesday at US$127.17, and managed to top $128 in pre-market trading on Thursday.

iPhone demand doesn't seem to be diminishing after nearly a week of availability. While supplies seemed to hold up fairly well during the first few days -- initially only AT&T stores were selling out -- many Apple retail locations are now sold out.

Apple's combination iPod and smartphone has also been receiving positive reviews from the likes of Walt Mossberg from the Wall Street Journal, David Pogue from the New York Times, and iPodObserver.com's reviews editor Bob "Dr. Mac" Levitus.

Apple is currently trading in the pre-market at $128.42, up 1.25 (0.98%).

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