>> From Sydney to Berlin, Tokyo to New York, fans camping out for Friday's release of the latest iPhone. But even the first in line won't get the new bigger 7+, sold out globally. Also sold out, the jet black iPhone 7, that's the latest fuel to boost Apple shares this week, soaring for the fourth day in a row.
Reuters market correspondent, Noel Randewich.>> Basically, what we're looking at is a situation where Wall Street went into the iPhone 7 with low expectations, not expecting a heck of a lot out of it. And early indications are that demand is clearly better than people had expected. So that's led to a 12% increase so far in Apple stock this week.
If you were to take Apple out of the Dow Jones Industrial Average, the Dow Jones Industrial average for the week would actually be down about a tenth of a percent. Instead, thanks to the gains we have seen in Apple, it' up about 0.4% across the week.>> Still it is hard to say how big of a hit the phone will be, as Apple is scrapping the first weekend's sales numbers it used to release.
The first sign that the phone might be a hit initially coming from Sprint and T-Mobile talking up big pre-order sales. But Wednesday a Verizon executive also saying at an investor conference that demand for the iPhone 7 appeared to be quote, business as usual.>> People who are more cautious or critical of Apple will remind you that, ultimately speaking, sales of smart phones are not growing like they used to be.
They're expected to grow something like 2% or less this year. That compares to 10% growth globally last year. So it's really not the same environment for selling smartphones that it has been over the last five or six years.>> Still, investors are cheering for the latest phone as customers start camping out.
Apple shares on Thursday closed up 3.4% at over $115.