Sales of iPhone 4S Top to Four Million

by FinancialNewsOnline on Oct 17, 2011

Apple (NASDAQ:AAPL) announced today that it has sold over four million of the new iPhone 4S just three days after its launch last Friday, October 14.

Additionally, more than 25 million customers have signed up for iCloud, a breakthrough set of free cloud services that automatically and wirelessly stores content and pushes it to all Apple devices.

The iPhone 4S is currently available in the U.S., Australia, Canada France, Germany, Japan, the U.K. and will be available in 22 more countries on October 28 and more than 70 countries by the year's end.

Philip Schiller, Apple's senior vice president of Worldwide Product Marketing said, "iPhone 4S is off to a great start with more than four million sold in itsfirst weekend--the most ever for a phone and more than double the iPhone 4 launch during its first three days. iPhone 4S is a hit with customers around the world, and together with iOS 5 and iCloud, is the best iPhone ever."

Apple (NASDAQ:AAPL) has potential upside of 20.5% based on a current price of $422 and an average consensus analyst price target of $508.33.

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