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With a NASDAQ-100 weighting rapidly approaching the critical 24% level, the public and the media excitement over pre-orders this morning has pushed the stock-of-all-stocks up over 1.1%. Thus, it was able to breach the magical $700 level, just after the day session closed.
In fact, pre-orders are around 2 million of the new iPhone 5s at around $250 each. In case we assume a 50% margin, while in fact could be much higher. This means that the company made $200 million in profit just in the last few days.
Thus, the the market cap rose over $7 billion.
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