Apple stock hits all time high as iPhone 5 pre orders sell out

Apple’s stock shot up to its newest high, $696.98 a share, after the company opened up pre-ordering online for its latest device, the coveted iPhone 5.
The iPhone 5 was possibly one of the most anticipated smartphone launches yet, with rumors flowing about its features since before the launch of the iPhone 4S. This iteration has a four-inch screen, and is thinner than the iPhone 4 and 4S, which both had the same, rectangular form factor. At the same time, Apple announced the release of iOS 6, it’s latest mobile operating system; a revamped iPod Touch that will also run iOS 6; as well as a new 2.5-inch touchscreen iPod nano.
Apple even shelled out for the Foo Fighters to wrap up the event with a couple ditties.
Today marked the first day consumers could pre-order the iPhone 5. It didn’t take very long for fans to scoop up the entire inventory of iPhones available to pre-order customers.
“Pre-orders for iPhone 5 have been incredible,” said Apple spokeswoman Nat Kerris to AllThingsD. “We’ve been completely blown away by the customer response.”
Stock holders are obviously also impressed with Apple’s performance, driving the stock through the roof to it’s highest price per share ever. The company was less than $4 away from hitting $700 a share.