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People still willing to wait in line for iPhones

Jimmy Gunawan proudly shows his new iPhones outside Apple's flagship store in Sydney.
Greg Wood | AFP | Getty Images

Shares in Apple and key chip suppliers for its new iPhones rose Friday, as the first day of sales at Apple stores drew long lines and an analyst said the first weekend would likely top the initial sales figures of last year's model.

Hundreds of people showed up at Apple stores in cities including Sydney, Tokyo and New York as two iPhone models launched simultaneously for the first time.

Analysts have questioned whether the technology of the new top-end 5S is dramatic enough to persuade people to trade up. Many also have questioned whether Apple has priced the plastic-backed 5C too high to combat cheaper smartphones that use Google's Android operating system.