Apple’s Phil Schiller announces the new iPhone 5 during a special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. (credit: Justin Sullivan/Getty Images)

NEW YORK (CBSDFW.COM/AP) - Delivery times climbed quickly as Apple started taking orders for their new iPhone 5 on Friday, suggesting strong demand.

Apple began taking online orders for the new phone at 12:00 a.m. Pacific time (2:00 a.m. Central), promising delivery by next Friday, when the new phone also goes on sale in stores. But those first shipments were sold out within just one hour. And four hours later, the expected delivery time had grown to two weeks, according to Topeka Capital Markets analyst Brian White.

White said that the quick rise in the expected delivery times suggests a 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 were still promising delivery by next Friday, while Verizon was promising delivery on September 26.

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

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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