Consumer Electronics
Will Apple Have Enough iPhone Xs to Go Around?
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As November draws closer, the hype surrounding the new Apple Inc. (NASDAQ: AAPL) iPhone X is building. Although there is always an incredible amount of news surrounding the iPhone giant, whether it’s the new partnership with GE or how Apple could benefit from tax reform, the iPhone X is now at the forefront with less than a couple of weeks until its debut on November 3.
There have been numerous reports that the new iPhone X will be incredibly difficult to find, but Apple looked to assuage concerns in a release the company gave Tuesday:
iPhone X will be available in more than 55 countries and territories, and in Apple Stores beginning Friday, November 3 at 8:00 a.m. local time. Stores will have iPhone X available for walk-in customers, who are encouraged to arrive early.
Note that Apple is saying this highly anticipated smartphone will be available for walk-in customers at its stores, not just preorders. However, the question remains whether there will be enough to go around.
Apple will at least have some units — although it’s unclear as to how many — to buy in store, and Apple did make a point of saying to “arrive early.”
Preorders for the iPhone X will begin on Friday, October 27, at 12:01 a.m. Pacific.
Apple has been one of the strongest Dow Jones Industrial Average stocks in 2017, ranking only behind Boeing, Caterpillar, Visa and McDonald’s. Apple’s stock is up about 35% year to date, and up 34% over the past 52 weeks.
Apple is set to report its fiscal first-quarter earnings next week a day before the iPhone X release, and the consensus estimates call for $1.87 in earnings per share (EPS) and $50.9 billion in revenue. The same period of last year reportedly had $1.50 in EPS and $46.85 billion in revenue.
Shares of Apple were last seen at $157.15, with a consensus analyst price target of $174.39 and a 52-week range of $104.08 to $164.94.
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