Apple’s iPhone 5 set unbelievable record when it more than doubled what was thought to be no mean-fit achievement by its predecessor. Following the announcement made by the company, shares of Apple Inc. (NASDAQ:AAPL) sky rocketed to trade at $699.78 by close of market, while in the after market, trading, the stock did hit the elusive $700 mark, as we reported yesterday.  Just before the launch of the iPhone 5 last week September 12, Apple Inc. (NASDAQ:AAPL) stock was trading below the $670 mark.

iPhone 5

The record preorders for the new iPhone 5 have also raised alarm in the company’s inventory system as it now appears, Apple Inc. (NASDAQ:AAPL) will have to come up with a solution for the likely shortage in supply. Consequently, this should be replicated in the sales units for Apple’s material suppliers, as the company will likely seek to add on its current inventory. This being a precaution for the long term supply of the new device, which should dominate the market until the next refresh.

The 2 million plus preorders is a clear signal of how popular Apple’s iPhone 5 is in comparison to the other smartphones in the market. Notably, Apple’s iPhone 5 overshadowed Samsung Galaxy S III, first impression, as the new product from the Korean based Samsung could not break iPhone 4s record of 1 million units. Actually, according to reports, Samsung managed approximately 10 million units within the first month, a figure that Apple Inc. (NASDAQ:AAPL) could well surpass within 14 days or so.

This will no doubt send tremors to the overall industry, as Samsung Electronics Co., Ltd. (LON:BC94) is still Apple’s main challenger, in the smartphones industry. The rest of the competitors like, Nokia Corporation (NYSE:NOK), Motorola, HTC Corp (TPE:2498), and Research In Motion Limited (NASDAQ:RIMM), are not real challenge, at the moment, and this latest announcement by Apple, regarding the record preorders should be spelling doom for them.

This is because there is a very high likelihood that a good number of the preorders came from consumers who were shifting from Apple’s competitors. Such a scenario would mean that; these companies continue to watch as their market share slip away with the giants in the industry yet other major tech players like Microsoft Corporation (NASDAQ:MSFT) and Google Inc. (NASDAQ:GOOG), threaten to rob them of the remaining pieces from the cake, while forging their way into the highly coveted industry.

Apple Inc. (NASDAQ:AAPL) is indeed rocking the market, as earlier reported, analysts are sensing at the possibility of the company reaching one billion units in iDevices sales, by 2015. Obviously, iPhones would be the most dominant in number across the product line of iDevices, then followed by iPads with, iPods falling way behind, as exhibited in the company’s product mix sales reports.

The prospect of continuing with the trend experienced in the opening day of the preoders creates several other questions to ponder. While the product deliveries will be delayed in some of the countries as earlier communicated. Apple stores will be selling the product, both, in physical locations and online. Actually, 356 apple retail stores will be selling the device from 8.00 a.m to around 5.00 p.m, so be early, because the ques will definitely be long.