Will Apple Have Enough iPhone Xs to Go Around?
Apple looked to assuage concerns about shortages of the iPhone X in a release the company gave Tuesday.
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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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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
