After weeks of uncertainty over where Apple’s stock would be heading, investors finally got an answer on Monday. CNBC reports that:
Shares of Apple traded higher in premarket trading Monday on speculation of strong demand for the iPhone X, which the company began taking preorders for on Friday. A deluge of orders for the company’s new luxury phone has already pushed shipment times into December, according to analyst reports from both Drexel Hamilton and Nomura.
This is a major development for Apple who had been showing some worrying signs until now. Lower than expected preorders for the iPhone 8 had analysts worried that this would carry over to the iPhone X. It seems now that Apple’s new luxury phone has consumers excited and this will help the company return to its winning form.
It isn’t just the new about the iPhone X that has Apple owners smiling. Techcrunch reports that
Apple is finally back to growth in China. The company has broken a run of sales decreases that stretches back six quarters thanks to promising early signs for the newly released iPhone 8, according to a new report from Canalys. The analyst firm recorded 40 percent annual growth for Apple in Q3 2017 with 11 million shipments during the three-month period.
This news may be even more important, as it shows that Apple has been able to reaffirm its position in one of the world’s most important smart phone markets. As China continues to expand economically, demand for smartphones will likely increase, so this will be welcome news for Apple.
These two reports should allow Apple to breathe a sigh of relief. The company still has much to do in terms of convincing their customers that significant news innovations are still in the tank, but for now the higher than expected sales should carry the company forward until the year’s end.
To read CNBC’s article on Apple’s iPhone X orders, click here.
To read Techcrunch’s article on iPhone sales in China, click here.
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