Apple's share price rose sharply on Wednesday, up almost ten points after the launch of the iPhone 5 was given a hearty backing by investors.
The share price peaked at $669.90 on the day, before dropping slightly to close at $669.79, underlining the huge importance investors place in the iPhone in Apple's range of products.
The rises marks a staggering year for Apple, with its share price in January a not inconsiderable $411 at that time. However, launches of the new iPad, more Macbook devices, and notable court wins have propelled it to a series of record highs.
With sales of the iPhone 5 expected to hit as high as 10 million within weeks of its launch, the share price could well rise, possible topping $700 before the year's end.
However, analysts said that Apple will not have it all its own way in the market, especially with arch-rival Samsung continuing to try and overthrow its dominance.
"The iPhone 5 does not come with any unique service or hardware features that are not available on the high-end Android devices," said IDC research manager Francisco Jeronimo.
"The experience and ecosystem may be better, but those who have moved from an iPhone to a competitor device in the past will not see a major reason to return to Apple because of this new device."
As such he said it would struggle to regain on Android in the market, but it would still lead to huge sales for Apple.
"This new device will be a major competitor to BlackBerry and Windows Phones devices, but will not be able to surpass Android volumes driven by lower prices and hundreds of devices available on the market today," Jeronimo said.
"It will, however, allow Apple to grow market share again, from a declining trend in the last two quarters."
The price of the iPhone 5 is set at £529 by Apple, although it remains to be seen what operators will charge, although all major carriers in the UK have confirmed it will be sold at launch on Friday, 21 September.
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