“Several analysts downplayed concerns about Apple Inc’s iPhone X production issues and were bullish on demand and sales, pushing the company’s shares to a record on Monday,” Reuters reports. “Positive commentary from analysts on Monday signaled strong demand for the pricey device with pre-orders starting this past Friday.”
MacDailyNews Take: It’s not “pricey.” It’s got a processor that benchmarks faster than laptops, but it fits in your pocket. iPhone X is worth more than Apple is charging.
“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,'” Reuters reports. “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.”
MacDailyNews Take: In a few hours, Apple’s market cap grew by more than a SiriusXM.
“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,” Reuters reports. “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.”
“Wall Street is bullish on Apple with 31 of 38 brokerages rating the stock ‘buy’ or higher,” Reuters reports. “Their median price target of $180 projects a market cap of nearly $930 billion for the iPhone maker.”
Read more in the full article here.
MacDailyNews Take: So as not to jinx it, we won’t write out the “t” word when describing Apple’s market cap possibilities for 2018.
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