NYC Apple Store: iPhone Watch; Update: Friday 10AM

Gadget lovers who just have to be the first to buy the highly anticipated iPhone have been camped outside the Apple store on New York’s Fifth Ave. all night.

Our official iPhone correspondent has texted in to give an update on the frenzied situation at the flagship Apple Store in New York City:

“The Apple store is pandemonium right now. There is a line spanning 2 blocks and an avenue and media trucks everywhere. It’s insane.�

- iPhone correspondent, CbDaBomb

The going rate for iPhones on Ebay is $1,200 but due to demand it’s hard to believe that everyone in line would actually receive a phone.