Many Analysts are brushing aside fears related to the production of Apple’s iPhone X.
They are still bullish on the sales and demands. Consequently, the shares of the company rocketed sky high on Monday.
Apple never offers the pre-order figures on its iPhone which leaves the analysts as well as the investors completely in the dark while they are seeking to track the output of the products through its suppliers. The other data needed for the same pertains to user surveys and indicators of the industry.
However, positive remarks issued by analysts on Monday pointed towards string demand for the product despite the apparent higher price. The pre-orders started last Friday.
There is no indication of the current Apple Stock but the company will be reporting its results on Thursday. The sales figure of the product is a part of these reports.
Since the new iPhone was launched in September, Apple stock has fallen more than 2 percent. The falling trend continued into last Thursday. Apple stocks picked up again on Friday when the company announced that the 10th anniversary phone were not being booked anymore.
Earlier during this session, the Apple stock climbed to 168.07. This resulted in an increase of 26 billion dollars in the market capitalization of the company.
Apple has now inched closer to becoming the first company having a trillion dollar valuation.
A famous analyst of the sector, Daniel Ives raised the forecast on Monday increasing the pre-orders by 10 million. Many other analysts have also increased their sales figures.
GBH Insights, the research house of the Ives, increased the expectations for pre-order for iPhone X. They expect that the Apple will be able to sell 50 million units by the next year.
The first stage of the iPhone X sales is rather spectacular. The iPhone X will be launched officially on Friday November 03. It is anticipated that the global demand for the product will be very high.
Keeping in view the limited supply available of the iPhone X, it can be said that the demand driven market will remain hungry for more.
Another renowned analyst has stated that Apple has taken longer for the delivery of this phone. All of them are simultaneously pointing towards the high demand associated with the iPhone X.
Analysts are also sure that the delay is not caused by bottlenecks in the demand-supply chain. It is known that Apple is an efficient company that can manage its supply chain well enough.