“We have always maintained that the power of Apple Inc.’s loyal customer base should not be underestimated,” Zacks Equity Research writes via Yahoo Finance.
“StreetInsider has cited a recent report by Rosenblatt China Technology wherein analyst Jun Zhang said that Apple sold 6 million units of the pricey iPhone X model over the Black Friday weekend alone. Since its launch, iPhone X has sold over 15 million units, added the report,” Zacks writes. “Moreover, the demand for 256 GB iPhone X, priced at $1,150, was double that of the 64 GB model that costs $1K. The hefty price tag was a concern for many analysts but it seems that is it not going to be a deterrent for consumers.”
MacDailyNews Take: Duh.
As we wrote back in August: Most people do not buy their iPhones outright. So, $1,200 spread out over 24 months is $50/month. So, yeah, a lot of people will be able to afford it.
Apple won’t be able to make enough. Expect protracted shortages… This will be Apple’s flagship, premium, cutting-edge iPhone and it should be priced as such (not to mention that the law of supply and demand dictates higher pricing).
Customers who are looking for lower sticker prices can simply opt for iPhone 7s or iPhone 7s Plus or even the iPhone 7 or iPhone 7 Plus, which are likely to stick around as the entry-level models through late 2018, just as the 6s and 6s Plus are today, or get the iPhone SE, of course.
As we wrote back in February: Our Jet Black 256GB iPhone 7 Plus units with 3 GB RAM each cost $969 plus tax, so $1,000+ for a loaded ‘iPhone X’ with 4+ GB of RAM would certainly not be surprising.
“Apple’s radically overhauled iPhone X was anticipated to be a super cycle and it seems like it is turning into one. Apple is expected to sell a whopping 30 million iPhone X units this quarter, per Rosenblatt,” Zacks writes. “It looks like Apple is set to witness a record breaking quarter wherein it is expected to sell 80 million iPhone units.”
Read more in the full article here.
MacDailyNews Take: The iPhone supercycle is only just revving up. Vroom, vrooooom!
Rosenblatt: Apple iPhone X production ahead of schedule, estimates 15 million units sold to date – November 28, 2017
Analysts: Users are passing on iPhone 8/Plus, waiting for iPhone X instead – September 20, 2017