Apple Shares Rise to Peak after Booming iPhone X Demand

Despite of all the criticism from several analysts regarding concerns about Apple’s iPhone X production issues, the company managed to get its market value back. Many points were raised on demand and sales of iPhone X. Since the shares of Apple jumped on Monday to an all-time high due to strong demand for the iPhone X, which the company began taking preorders for on Friday. Apple Shares Rise to Peak after Booming iPhone X Demand.

Apple Shares Rise to Peak after Booming iPhone X Demand

A series of orders for Apple’s for new luxury phone has already pushed shipment times into December, according to analyst reports.

An analyst Brian White wrote Monday:

“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.”

Apple has been scheduled to report quarterly results of its sales this Thursday. The company will be providing sales figures in these results.

Since the launch of new iPhones on September 12, the stock had fallen 2.5 per cent. They took another turn on Friday after Apple claimed that pre-orders for the 10th anniversary phone were “off the charts”.

The stock raised up to $168.07, adding nearly $26 billion to its market value. Thus making  Apple to get closer to becoming the first company with a trillion dollar valuation.

According to a well known analyst Daniel Ives who predicted for pre-order demand expectations for the iPhone X to be 50 million units from 40 million.

Ives said:

“With the official launch of iPhone X in Apple retail stores slated for this Friday, November 3, we anticipate very high demand globally with limited supply of iPhone X on hand.”

Although there has been a strong rise in the demand of Apple’s iPhone X, but the company has to struggle even more in order to deliver these phone in time. Since there have been rumors that the iPhone X production had been limited to a small number.