Apple Sells a Record Number of New iPhones in Weekend Debut

Apple (AAPL) sold a record number of new iPhones in its opening weekend, and S&P Capital IQ analyst Angelo Zino expects demand will remain robust as Apple begins selling in additional markets next week. Zino said the sales numbers are a positive for Apple, and other telecom companies, like T-Mobile (TMUS) and Sprint (S), could benefit from sales of the iPhone 6s and iPhone 6s Plus. Zino says Apple will be faced with supply constraints over the next few weeks as the roll out continues. Still, Zino expects Apple will sell 76 million units in the December quarter, which would be higher than Apple's phone sales in the year-ago quarter. Zino rates Apple stock a strong buy, with a price target of $150.