Apple shares hit an all-time high as analysts say that iPhone X pre-orders are ahead of expectations
Pre-orders for the Apple iPhone X were strong enough to send Apple's shares to an all-time high
Apple has been having problems producing the iPhone X due to a few new features including the OLED display and the complex TrueDepth Camera used for the facial recognition system known as Face ID. As a result, minutes after the phone was opened to pre-orders, Apple sold out its stock and had to resort to back-orders to keep the reservations coming. Delivery times remain at 5 weeks to 6 weeks for newly placed iPhone X pre-orders. That compares with 2 to 3 weeks for last year's Apple iPhone 7 Plus, and 2-4 weeks for the Apple iPhone 6 and Apple iPhone 6s.
"We are encouraged that shipping lead times have held steady at 5-6 weeks because these pre-orders can be recognized as shipments in the December quarter. Apple is taking the iPhone franchise to a whole new level with the iPhone X, pushing the company deep into the ultra-luxury smartphone market."-Brian White, analyst, Drexel Hamilton
"We observed shipment times for the iPhone X tick up to 5-6 weeks within minutes of Apple opening pre-orders, where they have held over the weekend. This is ahead of the 2-3 weeks during the iPhone 7 Plus launch and the 2-4 weeks during the iPhone 6 and 6s launch."-Jeffrey Kvaal, analyst, Nomura
"We observed shipment times for the iPhone X tick up to 5-6 weeks within minutes of Apple opening pre-orders, where they have held over the weekend. This is ahead of the 2-3 weeks during the iPhone 7 Plus launch and the 2-4 weeks during the iPhone 6 and 6s launch."-Jeffrey Kvaal, analyst, Nomura
source: CNBC
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