Apple’s sold a record 5.2 million iPhones, seven times the amount during the same quarter last year; as it unveiled a new iPhone and reduced the price of the its older modeler to $99.

Demand for the new iPhone 3GS has been so strong, particularly toward the end of the third quarter, that Apple has announced it will need weeks to continue to meet demand as supplies in every country are near or already have reached depletion.

The iPhone isn’t the only product in shortage. The recently price reduced Mac Book is also in shortage as sales rose 4% to 2.4 million.

The company reported strong earning today after trading hours.

In a conference call with the press, Apple also denied once again rumors that it intended to build a tablet PC. But the company may be planning something else as it announced that it has placed a $500 million order for computer memory.

Such an order signals that Apple intends to launch a new product at sometime in the near future.

After revolutionizing computers, music and phones I think it is time Apple entered the television industry with the coolest, slickest and most user-friendly HD T.V. ever.

And, o’ yeah, there is a new app - one of over 65,000 - that helps you buy none other than marijuana:

Called plainly “Cannabis,” a new $1.99 application for Apple’s iPhone and iPod Touch lets you find medical marijuana in the 13 states that have such laws, and lawyers in the 37 others that don’t.

Photo Credit: Julian Cain/Ajnag

For overseas users, it also guides you to the friendliest Amsterdam hash bars.