Apple sells out of iPhone 7 models Company shares jump nearly 4 percent amid news

SAN FRANCISCO (AA) – Apple has sold out of many of its new iPhone 7 and iPhone 7 Plus models before the smartphones become available at retail stores, the company said Thursday.

Apple opened up pre-orders for the new mobile phones Sept. 9, soon after the company unveiled the devices. It appears that those pre-orders have outstripped supply, and retail stores will not have several versions of the new iPhones when they officially launch Friday.

All iPhone 7 Plus smartphones have sold out, and some iPhone 7 models have as well, including the colored “jet black”, a brand new color scheme.

“We couldn’t be happier with the initial response to iPhone 7 and iPhone 7 Plus, and we are looking forward to beginning sales through our retail stores and partners around the world,” Apple said in a statement. “Beginning Friday, limited quantities of iPhone 7 in silver, gold, rose gold and black will be available for walk-in customers at Apple retail stores. During the online pre-order period, initial quantities of iPhone 7 Plus in all finishes and iPhone 7 in jet black sold out and will not be available for walk-in customers.”

The two new iPhones were set to launch in 28 countries on Sept. 16. Customers can still order the new smartphones, but there will be a wait. The Apple website claims U.S. residents interested in certain models will have to wait until November to receive them.

Shares of Apple increased nearly 4 percent amid the news, closing at $115.57 per share.

The past week had been good for the company with its stock rising 12 percent since Monday. The rally is the best four-day streak Apple has seen since April 2014.

“We sincerely appreciate our customers’ patience as we work hard to get the new iPhone into the hands of everyone who wants one as quickly as possible,” Apple said.

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