Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

When seen through the lens of technology, few resources are truly scarce; they’re mainly inaccessible. 

 

Peter Diamandis

Apple stock hits record thanks to analysts bullish on iPhone X

RATE THIS! +25
Posted in Hardware on 31st Oct, 2017 08:09 AM by Alex Muller

Analysts downplayed concerns about iPhone X production issues and were bullish on demand and sales, pushing the company’s shares to a record. The Cupertino company does not provide pre-order figures on iPhones, leaving investors and analysts in the dark in trying to track output through research with its suppliers.

 
But positive commentary from analysts on Monday signaled strong demand for the pricey device with pre-orders starting this past Friday.
 
Apple is scheduled to report quarterly results this Thursday. The company provides sales figures in its results.
 
Since the launch of new iPhones on Sept.12, the stock had fallen 2.5 percent until last Thursday’s close. They rebounded on Friday after Apple said pre-orders for the 10th anniversary phone were “off the charts.”
 
The stock climbed to $168.07 earlier in the session, adding nearly $26 billion to its market cap and inching it closer to becoming the first company with a trillion dollar valuation. Shares pared gains and were up 1.9 percent at $166.15 mid-day.
 
Daniel Ives, a well-known sector analyst, raised his forecast on Monday for pre-orders by 10 million, and several other analysts talked up sales over the next year.
 
In a note, Ives of research house GBH Insights, raised his pre-order demand expectations for the iPhone X to 50 million units from 40 million, calling the first stage of the iPhone X release a “stellar success.”
 
“With the official launch of iPhone X in Apple retail stores slated for this Friday, Nov. 3, we anticipate very high demand globally with limited supply of iPhone X on hand,” Ives said.
 
Jeffrey Kvaal from brokerage Nomura Instinet said Apple and U.S. wireless carriers’ pushing out of delivery times for iPhone X orders to 5-6 weeks was longer than for previous phones and pointed to strong demand.
 
Asked by Reuters whether production bottlenecks are causing shipment delays, Tigress Financial Partners analyst Ivan Feinseth responded: “No, there’s no bottlenecks. This is a company that manages the supply chain well.”
 
However, Drexel Hamilton analyst Brian White, cautioned that the longer wait times for consumers ordering phones may be as much due to the component supply issues, which led Apple to delay the launch of the premium phone until November.
 
“Although we believe Apple is benefiting from strong demand from the iPhone X, the company is also struggling with supply constraints,” White, who has a buy rating on Apple, said.
 
“A sound debate around the key driver for the surging shipping lead times can be made by reasonable people. Thus we believe it was important for Apple to highlight the demand side of the equation for the iPhone X.”
 
Wall Street is bullish on Apple with 31 of 38 brokerages rating the stock “buy” or higher. Their median price target of $180 projects a market cap of nearly $930 billion for the iPhone maker.

Tags: AppleiPhonemobilesoftwarehardwarebusiness

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Science on 2017-11-20 00:42:21
    Small steps forward as UN climate talks end in Bonn..read more
    Posted in Hardware on 2017-11-20 00:37:56
    US gov should support SpaceX and develop moon bases..read more
    Posted in Business on 2017-11-18 21:15:58
    Companies are realising that renewable energy is good for.....read more
    Posted in Hardware on 2017-11-18 21:07:25
    California may reach 50% renewable power goal by 2020; 10.....read more
    Posted in Hardware on 2017-11-17 18:02:34
    Tesla unveils a truck and a roadster..read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Martian landscapes formed from sand 'levitating' on a little.....read more
    Posted by AlexMuller
    Scientists detect comets outside our solar system..read more
    Posted by AlexMuller
    Advanced artificial limbs mapped in the brain..read more
    Posted by AlexMuller
    Bacteria have a sense of touch..read more
    Posted by AlexMuller
    Recurrent brain cancer: New hope with phase 1 clinical trial.....read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me