Apple sells one millionth iPhone

Reuters reports: “Apple Inc said on Monday it has sold its one-millionth iPhone, just days after cutting the price of its smartphone by $200 and a few weeks ahead of the expected date to reach that target.”

“Apple, which said last week it was on track to sell 1 million iPhones by the end of September, saw its shares rise $3.81, or 2.89 percent, to $135.58 in morning trading. Apple stock had fallen last week when the company said it was cutting the price of the phone as some investors took this as a sign of weaker-than-expected demand.”