If you didn’t manage to nab an iPhone X shortly after pre-ordering began Friday, you might have to wait until mid-December to get your hands on Apple’s 10th-anniversary phone, as pre-order supplies reportedly sold out quickly.
While manufacturing and supply issues, along with the device’s $1,000 price tag, had been raising concerns that the iPhone X (pictured above) might not sell as well as previous releases, Apple said in a statement Friday that pre-ordering demand was “off the charts.”
Those early indicators of strong demand have prompted some analysts to revise their forecasts for iPhone X sales upward. Those indicators also briefly pushed Apple stocks to a new high today, with company shares continuing to perform strongly as of this morning.
Forecast: ‘Super Cycle’ of Upgrades
Officially set to be released Friday, the iPhone X could see pre-order sales of as much as 50 million units, compared to previous expectations of 40 million, according to an upgraded forecast released today by the analyst firm GBH Insights. In a research note, Daniel Ives, the firm’s chief strategy officer, said that he expects the device to be a “stellar success.”
“In a nutshell, we believe iPhone X demand will be strong in the US and especially China as overall our survey feedback indicates that 40% to 45% of iPhone upgrades in FY18 will be iPhone X devices with iPhone 8/8+ tailwinds helping set up a ‘super cycle’ upgrade over the next year,” Ives aid in an earlier note this month. “While supply chain issues will elongate the iPhone X upgrade cycle well into FY18, we believe seeing the ‘forest through the trees’ will translate into this super cycle upgrade being a major growth catalyst for Apple (and its investors) over the coming year.”
Nomura Instinet is also predicting a strong performance for the…
Source: Mobile Tech Today