Apparently We're All Very Impressed With iPhone 5: Apple Stock Tops $700 For The First Time Ever

Although we’ve heard plenty of so-so and “meh” feedback for the iPhone 5, we’ve also seen a whole lot of people scrambling to order Apple’s newest shiny gadget. And it seems we as consumers in general are pretty darn impressed by the thing, as Apple’s stock went over $700 for the very first time ever, to $701.44 this morning. So they’ve got to be doing something right, eh?

Stock was already rising in the weeks leading up to the big iPhone 5 reveal, and Apple wasn’t disappointed in the interest it frothed up: There were two million pre-orders for the phone just in the first 24 hours, which is twice the amount last year for the iPhone 4S, reports CNNMoney.

There’s more coming down the pipeline that Apple hopes will continue to impress consumers and make investors happy, including another iPad and rumored gadgets like the iPad mini and a new iteration of Apple TV. So far this year, Apple stock has risen 80%. That’s a lot of wowed people.

The only worry for investors is that stock is going up too fast, and could become overvalued. After the frenzy dies down, the company will still be there and it remains to be seen how long it can coast on its newest gizmos. Remember that whole antenna snafu? The tide could still turn.

Rising stock or no, there will be plenty of “I waited in line for the new iPhone 5 and [insert either horrible experience anecdote or how it’s totally worth it]” in the near future.

Apple stock tops $700 [CNNMoney]

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