With the iPhone back in stock, Apple’s stock is back in action.
Since the new iPhone 5s and 5c started selling Sept. 20 shares are up about 4.5 percent. Apple rose Tuesday 2.4 percent to close at $487.96.
This is the first iPhone launch since 2009 that saw the stock price increase after the following seven trading days.
Apple sold out of new phones after its record opening weekend of sales, led by high demand for the gold-colored version of its iconic devices. Sales topped 9 million in three days, beating the iPhone 5 opening weekend last year that did 5 million is sales.
The company has proved there is still plenty of life left in the high-end market for smartphones, a phenomenon that Barclays analysts highlighted in a note to clients Tuesday.
“We believe the smartphone market could start to shift back in favor of Apple in the very near term given new product launches and some creative ways to entice purchases at the high end,” Barclays said.
As Samsung has grabbed more territory, Apple has been slipping in global smartphone market share, falling from 19 percent of the market in the second quarter 2012 to 14 percent in the second quarter this year.
For now, the gold version of the iPhone 5s is still the hottest gadget and hardest to get. It was still unavailable Tuesday for in-store pickup. The gold phone is such a coveted item that there is a booming trade in sticker decals that mimic the golden look.
However, supply constraints on the other models eased this week, and the models were shown as available in stores after ordering on Apple’s website.
Apple shares also were spurred higher on Tuesday by activist investor Carl Icahn who pitched Cook this week on his desire for a $150 billion stock buyback.
“Had a cordial dinner with Tim last night. We pushed hard for a $150 billion buyback. We decided to continue dialogue in about three weeks,” Icahn tweeted.