China boosts Apple's record phone-launch selloff

Apple (AAPL.NASDAQ) sold a record 9 million iPhone units within the first three days of launching its 5s and 5c models, reflecting the positive impact from adding China to the list of launch countries, Reuters reported. Previously, Apple began selling phones in China only months after the global launch. “We believe that the immediate availability of the phone in China is also a key driver of the strength,” Shebly Seyrafi, an analyst with FBN Securities, said in a note to clients. Apple shares were up 5% at US$490.64 on Monday’s closing after the company said fourth-quarter revenue would gravitate towards US$37 billion.