Apple has sold more than 700,000 iPhones over the weekend (that is more than what Motorola’s RAZR sold in its first month.) Most of the stores are out of supplies, in US. Apple’s stores in Hawaii, Michigan, Minnesota, Nebraska, Nevada, New Hampshire, Oklahoma, Rhode Island, Utah and Washington have sold out their iPhones in three days from the launch date.

According to American Technology Research, they predicted that the iPhone would likely become the company’s fastest selling product in history after reviewing initial sales numbers, and even speculated that the iPhone could rank among the fastest selling consumer electronics.

Microsoft CEO Ballmer laughs at Apple iPhone

Microsoft CEO Steve Ballmer in mid-January laughed at Apple’s iPhone, saying that the device isn’t very useful for business customers because it doesn’t have a keyboard. Ballmer also balked at the iPhone’s high price, calling it the most expensive phone in the world. After pointing to Microsoft’s software on “millions and millions” of phones alongside Apple’s “zero” in the market place, Ballmer hinted that Apple’s most expensive phone yet might not fare well as the company’s first cellphone offering.