Apple executive Scott Forstall talked about iPhone 4S features. The 4S is priced at $199, $299, and $399, depending on features
(Paul Sakuma/Associated Press)
MARKET MOVERS
Apple Inc. received more than a million preorders for the iPhone 4S in a single day, putting the company on a record-setting sales pace ahead of the device’s release Friday. The preorders topped the record of 600,000 set by the iPhone 4 last year. The rush signals that there’s pent-up demand for the new model, which was released 16 months after the last one - a longer wait than with previous iPhone releases. The preorders indicate Apple may sell nearly 3 million in the first weekend, almost double the number sold in the opening weekend last year, said Mike Abramsky, an analyst with RBC Capital Markets. The strength of the orders should silence those who said the lack of a redesigned body on the iPhone 4S would deter buyers, said Mark Moskowitz, an analyst at JPMorgan & Chase Co.
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