Apple’s iPhone 5 Release Draws Biggest Crowds to Date

Lines for the new iPhone 5 outside of Apple stores around the U.S. are dramatically longer today than they were for the iPhone 4S, which was released last October.

Gene Munster of Piper Jaffray crunched some numbers to determine the growth of crowd size between the last two iPhone releases.

Piper Jaffray counted 775 people in line at the Fifth Avenue store, for instance, 68 percent more than the number queued up at the same store when the iPhone 4S went on sale last year.

According to the New York Times, Munster believes that Apple might be able to sell as many as eight million iPhone 5’s through this coming weekend.

Not surprisingly, shares of Apple ticked higher once more today, teasing new all-time highs well above $700.

Sales are said to be outpacing supply by such a degree that new iPhone 5 orders placed online can take upwards of four weeks to be received.