iPhone 5 delivery time rises

Apple began taking orders for the phone at 12 a.m. Pacific time, promising delivery by next Friday, when the new phone also goes on sale in stores.

Four hours later, the expected delivery time had grown to two weeks, according to Topeka Capital Markets analyst Brian White.

White said the quick rise in the expected delivery time suggests much stronger demand than Apple expected. Last year, one-week delivery of the iPhone 4S was available into the afternoon of the first order day.

"Clearly, iPhone 5 fever is in full swing," White said.

AT&T and Sprint was still promising delivery by next Friday, while Verizon Wireless was promising delivery on Sept. 26.

Apple's stock rose $12.98, or 1.9 percent, to $695.96 in midday trading, hitting an all-time high.