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BOOMING Apple Stock Climbs to Record High Lukas Barth, DAPD / AP Photo

Apple Stock Climbs to Record High

Shares of Apple hit a new all-time high of $696 on Friday, as markets went wild over the iPhone 5. The climb beats Apple's past record, as analysts up and down Wall Street predict massive sales for its new phone. "Unlike last year's release of the iPhone 4S, this year's iPhone 5 announcement comes as a significant departure from previous models," HIS mobile analyst Daniel Gleeson told CNNMoney. In fact, demand for the new gadget is so high that Apple had to push back its shipment dates. According to Reuters, the company's U.S. store thinks orders will take two weeks to fulfill.

September 14, 2012 12:55 PM