Apple shares hit an all-time high as analysts say that iPhone X pre-orders are ahead of expectations

Apple's market capitalization hit an all-time high today when the company's shares hit $168.07 during the NASDAQ trading day. And while the stock closed trading on Monday at $166.72, up $3.67 for the day, Apple's current valuation of  $861 billion brings it closer to being the first company to be worth $1 trillion. To hit that mark, Apple would have to rise 16% to $193.64.

The catalyst for the rally is the strong showing made by the Apple iPhone X once pre-orders were opened up Friday morning. Apple said that orders for the tenth anniversary model were "off the charts," and that the number of units reserved were much higher than the company expected. Apple reportedly has told its suppliers in Taiwan to double capacity as it expects heavy demand for the premium model to continue.

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.


source: CNBC

Related phones

iPhone X
  • Display 5.8" 1125 x 2436 pixels
  • Camera 12 MP / 7 MP front
  • Processor Apple A11 Bionic, Hexa-core, 2390 MHz
  • Storage 256 GB
  • Battery 2716 mAh(21h 3G talk time)

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23 Comments

1. ChaoticRage

Posts: 154; Member since: Jan 15, 2016

Off the charts. Apple is bringing it.

2. cmdacos

Posts: 4209; Member since: Nov 01, 2016

Lmao!

16. piyath

Posts: 2445; Member since: Mar 23, 2012

Apple does not announce products once a month like many other companies, they do that only 2-3 times a year but when they does, LOL, they hit it as hard as they could that no one can come even close to their innovations. People say Apple has changed and that they aren't innovating but I say they did not innovate 10 years back, all they do is reinvent. That's what they do best and they do it right. They look at a failed product, a dummy, a dud and take ideas and make a total hit out of that concept. They make unknown, hidden, buried tech in to common, familiar, relevant and mainstream products. That's the beauty of Apple.

3. Klinton

Posts: 1409; Member since: Oct 24, 2016

So , if you are not dumb, listen: It's time to sell. Hurry up. Apple will buy-back on high, to keep the hype. You can thank me later.

4. darkkjedii

Posts: 31055; Member since: Feb 05, 2011

If the X doesn't have any problems (outside of normal software bugs), they're gonna get to 1 trill. The X is a huge bet for Apple. No issues, and it'll be huge, issues, and it'll be a huge sore. I say, it'll be a solid hit for Apple, and get them close to 1 trill, if not at that valuation.

6. baldilocks

Posts: 1506; Member since: Dec 14, 2008

The notch is a huge issue.

13. Marienx

Posts: 120; Member since: Aug 27, 2013

I'm not sure.. there a lot of stupid thing Apple have made and are still a hit. Let's see how this stupid notch plays out.

7. Klinton

Posts: 1409; Member since: Oct 24, 2016

No matter what, Apple stock will fall down at least 15%, one two weeks after the worldwide release. (after that depends on what you've said) The media hype always push up the stock higher than normal, before it.

19. cnour

Posts: 2305; Member since: Sep 11, 2014

You are very smart. Keep dreaming....

5. baldilocks

Posts: 1506; Member since: Dec 14, 2008

No accounting for taste.

11. LiLLicky

Posts: 88; Member since: Oct 27, 2017

This phone is the next evolution of the smart phone category. It will dominate 2018

14. antonmassoud

Posts: 89; Member since: Oct 22, 2016

What evolution are you talking about lol

18. cnour

Posts: 2305; Member since: Sep 11, 2014

Not only 2018, till 2020.

23. trojan_horse

Posts: 5868; Member since: May 06, 2016

You're right, since Apple likes recycling the same design for several years, then yeah, till 2020!

27. T12RYK

Posts: 849; Member since: Jun 10, 2011

They might recycle their designs but that only because they are top 'notch' (get it?) designs. Even with the same design they will out sell every other phone on the market and have one of the highest customer satisfaction rates.

28. lyndon420

Posts: 6790; Member since: Jul 11, 2012

Next evolution? Because of the notch? Face ID? Now that the silly looking home button is gone it looks like an Android phone. When they start using solid state batteries that last more than a few days and charges in minutes...then we'll talk evolution.

12. palmguy

Posts: 982; Member since: Mar 22, 2011

Totally new hardware design for Apple. Something bad is gonna happen.

15. piyath

Posts: 2445; Member since: Mar 23, 2012

Apple does not announce products once a month like many other companies, they do that only 2-3 times a year but when they does, LOL, they hit it as hard as they could that no one can come even close to their innovations. People say Apple has changed and that they aren't innovating but I say they did not innovate 10 years back, all they do is reinvent. That's what they do best and they do it right. They look at a failed product, a dummy, a dud and take ideas and make a total hit out of that concept. They make unknown, hidden, buried tech in to common, familiar,

21. L0n3n1nja

Posts: 1560; Member since: Jul 12, 2016

So we have reports that there are production issues causing a shortage and reports of sales being down. Then some analyst claims there is higher than expected pre orders and the stock climbs. I will never understand the stock market.

22. midan

Posts: 2887; Member since: Oct 09, 2017

"We now believe pre-order demand could be closer to 50 million units of iPhone X vs. our original estimate of 40 million,” Ive writes, “which is more than double the current supply of iPhone X out of Asia currently available for shipments over the coming months. 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.”

25. mootu

Posts: 1520; Member since: Mar 16, 2017

So if Ive's claims of 40 - 50 million pre orders are true and Apple can only produce less than half (20 million units?) over the next few months, why the hell would the share price climb? Seems like the Apple hype train is at full speed.

26. whatev

Posts: 2267; Member since: Oct 28, 2015

And it also seems like the butthurt android fans train is at full speed

35. xfire99

Posts: 1205; Member since: Mar 14, 2012

Which of problems to producing iPhone X does this dumb analyst didnt understand? OFC the waiting time will be much longer if there are problems to produce the phone!

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