NEW YORK — Apple Inc. rose to a record after the company said orders for the iPhone 5 from its online store won’t be shipped for two weeks, fueling speculation that the new model has sold out.
The shares climbed 1.2 percent to $691.28 at the close in New York.
Based on the two-week delivery estimate currently on the company’s website, the iPhone 5 would ship Sept. 28. When Apple unveiled the latest model iPhone earlier this week, the company said preorders in the United States and eight other countries would begin Friday and the product would be available on Sept. 21.
Shaw Wu, an analyst at Sterne Agee & Leach Inc., raised his sales estimate for the quarter ending in September to 26 million units, from 23 million.
A spokeswoman for for Apple did not repond to a request for comment.