The second half of Apple’s one-two punch

If you have even a passing curiosity in the tech world, you probably heard that the iPhone hits stores today. And even if you didn’t, there’s a fair chance you passed a long line of people at your local Apple store.  

This fourth phone from the company in four years is already a phenomenon. Pre-orders were 10 times higher than previous products, including last year’s 3GS. (600,000 preorders were logged on the first day.) It got so bad, in fact, that Apple’s site had to keep moving back the ship date for people ordering online, as it was unable to keep up with demand.

The new iPhone is packed with new features, including the ability to shoot high definition video and easily edit it on the phone. The device will record video at resolutions of up to 720p, shooting at 30 fps – which could make it a possible tool for guerilla video shoots from indie filmmakers.

It’s 24 percent thinner than existing iPhones and has a screen quality that’s four times that of the 3GS, with resolutions of up to 960 x 640. It also has a better battery life.

It’s already a winner – and it follows another milestone for the company. Earlier this week, Apple announced that the iPad has passed sales of 3 million units in just 80 days. That’s twice as many as analysts were predicting the company would sell this quarter.

Listen closely and you’ll hear investors cheering.