Apple Stock Rides the iPhone Wave

Since Apple released the iPhone on June 29, both customers and investors have been pleased with the deviceis performance, and that is showing in the companyis stock. Appleis 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 doesnit 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.

Appleis 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.comis 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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