IPhone 5, which launched in China on Friday, will be available in more than 100 countries by the end of December.
That sales tally also set a record, but only beat last year’s iPhone 4S launch by a small margin, falling short of some analysts’ expectations. Apple shares hit an all-time high of $705.07 that day, but in the months since the stock has plunged about 26 percent.
Also on Sunday, Citi analyst Glen Yeung cut his rating for the Cupertino, Calif.-based company to “Neutral” from “Buy,” questioning the strength of iPhone 5 demand and saying that it’s unlikely Apple shares will rally any time soon.
Apple Inc. shares rose $9.04, or 1.8 percent, to close at $518.83 Monday.
By Mark Mix
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