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Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

3

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
RetailFortune 500

Initial Stock of Apple’s iPhone 7 Plus Has Sold Out

By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
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By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
Down Arrow Button Icon
September 15, 2016, 2:32 AM ET

Initial quantities of the iPhone 7 Plus have sold out globally as Apple (AAPL) prepares to roll out its new gadget in stores, the company said Wednesday.

Supplies of the larger size of Apple’s new phone have been exhausted in all shades, and the smaller iPhone 7 has also sold out in the new jet black color, the company said.

Customers who enter Apple Stores Friday, when the gadgets hit shelves, will not be able to purchase the sold-out phones on site, but they can continue to place orders for their desired models online, Apple said.

“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 spokeswoman Trudy Muller said in a statement.

See also: Use This Calculator to Save More Than $1,700 on iPhone 7

Apple launched the new phones at a San Francisco event earlier this month. The gadgets feature improved cameras and eliminate the traditional headphone jack in favor of new technology.

Breaking with tradition, the company will not release first-weekend sales of the iPhone 7 and 7 Plus, saying the figure is more a reflection of supply than demand.

The decision sparked concerns among some on Wall Street, where many fear sales of the iPhone, a critical product for Apple, may be leveling off. But U.S. wireless carriers Sprint (S) and T-Mobile U.S. @(TMUS) said on Tuesday they received strong pre-orders for the iPhone 7, sending Apple shares up.

See also: Next Year’s iPhone Could Have a Brand New Look

“Based on everything I’ve seen it looks like demand is very strong,” analyst Jan Dawson of Jackdaw Research wrote in an email.

The 5.5-inch iPhone model, known as the Plus, has sold out soon after launch since Apple introduced the size with the iPhone 6 in 2014. Phones in newly released finishes are also typically snapped up quickly by customers eager to showcase the latest iPhone design.

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