Demand for smartphones continues to boom. Apple iPhone 5 pre-orders exhaust supply in 1 hour! Total smartphone annual shipments expected to exceed 1 billion by 2016.

A recent article in Firece Wireless had the following remarks about pre-orders for the new iPhone 5 unveiled by Apple last week . . . “Apple ran out of stock for pre-orders in about an hour and is now telling customers on its website that iPhone 5s ordered now will ship in two weeks. Pre-orders began at 3:01 a.m. ET today and, according to multiple reports, the traffic crashed Apple’s servers for its online store. The demand for the iPhone 5 was seemingly greater than it was last year when the iPhone 4S.”  In addition to the news on the iPhone sales, DisplaySearch, an NDP company, came out with a projection last week that total global smartphone sales would exceed 500 million this year and would exceed 1 billion per year by 2016.  As I have said in the recent past – the implications for our portfolio cannot be overstated.  We remain invested at multiple touch points for this phenomena.  Jeb Terry, Sr. September 16, 2012

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