“Wireless carriers in the United States and Canada have reported slow third-quarter customer upgrades,” Mukherjee reports. “The chief executive of Rogers Communication, Canada’s largest mobile network, on Thursday said appetite for the iPhone 8 and 8 Plus, which went on sale in September, had been ‘anemic.'”
“The uncertainty about demand coupled with a Taiwan media report of a cut in iPhone 8 production pushed Apple shares down 2.8 percent by midday,” Mukherjee reports. “A carrier store survey suggested the cheaper iPhone 7 was outselling its successor just a month after iPhone 8’s launch, KeyBanc Capital Markets analyst John Vinh said this week.”
Read more in the full article here.
MacDailyNews Take: Gee, wonder why?
Be fearful when others are greedy, and be greedy when others are fearful. — Warren Buffett
Given that those who are not waiting for iPhone X (the vast majority of Day One newest-release iPhone buyers are waiting for iPhone X) are much more likely to be price sensitive consumers, it is wholly unsurprising that they are choosing the less expensive options, iPhone 7/Plus. We expect iPhone 6/Plus units are also selling well downmarket.
Jim Cramer: The action in Apple’s stock is a lesson on buying into weakness – October 17, 2017
Analyst: Apple’s iPhone 7 is outselling iPhone 8 – October 16, 2017