NEW YORK -- Apple says shoppers snapped up 9 million of its newest iPhones since the devices were launched Friday, and that demand is exceeding supply.
Apple says the two new models gave it its strongest iPhone launch ever. The company began selling the low-cost 5C and top-of-the-line 5S on Friday.
The company says demand for iPhone 5s has exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks.
Wall Street hadn't been enthusiastic about the new models, which were unveiled earlier this month.
Apple also said its fourth-quarter revenue will be at the high end of its estimates. The company had projected $34 billion to $37 billion in total revenue, and it also said gross margins will be near the high end of its expectations.
FactSet says analysts were forecasting $36.17 billion in revenue.
Shares of Apple gained $16.52, or 3.5 percent, to $483.93 in midday trading. The Cupertino, Calif., company's stock had lost about 12 percent in 2013 and almost one-third of its value over the last year.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
A Seoul court denied Samsung's claim that Apple violated three of its patent related to short message services.
As federal regulators consider removing a decades-old prohibition on making phone calls on planes, a majority of Americans who fly oppose…
Music service Spotify has launched a new free streaming service for mobile devices.
Beating out major competition from Apple and Microsoft, Google took top honors from Time Magazine this week in its list of top gadgets of 2013.
On Monday, the social network released the topics, people and life events that its users discussed the most in 2013.
The Newborn-to-Toddler Apptivity Seat from Fisher Price is a bouncy seat with all the traditional elements: Dangling toys, pillows and...apps?
Eight major technology companies have joined forces to call for tighter controls on government surveillance, issuing an open letter Monday to…
A couple married for just three weeks lured a man to his death with a Craigslist ad because they wanted to kill someone together, police said.
Whether you're looking for something thin and light, or want a tablet that performs like a laptop, there's plenty to choose from if…
Instead of traditional investors, crowdfunding campaigns are funded by the general public. Websites allow people with ideas to make their…