iPhone 5 Sells Out Instantly, Stock Hits Record High

We're not sure if this means it's going to save the economy or anything, but the new iPhone looks like a sales hit; it sold out in less than an hour on Apple.com, BGR reports, despite bellyaching from pundits that it was too incremental an upgrade. The feat is especially impressive given that preorders went up at 3:01am Eastern. Of course, there are other places online where the phones will be available. As of this writing, preorders still appear to be available from AT&T, Verizon, and Sprint. Not surprisingly, Apple shares hit a record high today, CNN reports: $696.82. (More iPhone 5 stories.)