iPhone 5 Sells Out Instantly, Apple Stock Hits Record High

Apple has done it again. Wether or not you think the iPhone 5 is big enough of an upgrade, they're still selling like crazy. 

In fact, it sold out in less than an hour on Apple.com.

The feat is especially impressive given that preorders went up at 3:01am Eastern time, meaning they were sold out before 4am. 

As of this writing, preorders still appear to be available from AT&T, Verizon, and Sprint, but not directly from Apple.

Not surprisingly, Apple shares hit an all time record high today as well. $696.82.