Apple stock rebounds as Chinese stocks of new iPhones sell out
Apple's Chinese website shows all pre orders of their 5C and 5S devices have sold out (a translation of their Chinese site here), but there's still no word on what total pre orders are at.
That's unusual from Apple. Typically, they'll announce pre order numbers shortly after they launch. Those pre orders begun shortly after the launch event (again, that's normal from Apple).
That could mean a few things. The supply of phones could be very low, and Apple fear global demand can't be met. Perhaps the number on offer was very low to begin with, and those figures will be seen as unimpressive.
Either way, the lack of the announcement, and had seen Apple stock fall during the last session. That weakness has seen a reversal in today's trading on news that supply is drying up.
