Friday, 20 October, 2017

IPhone 8 launch sees dismal turnout

Apple's big reveal the iOS 11 update is here Everything you need to know iPhone 8, 8 Plus draw Apple fans at launch despite X holdouts
Rosalie Gross | 23 September, 2017, 00:49

Waratah Capital Advisors Ltd. acquired a new position in Apple during the fourth quarter valued at approximately $8,304,000. The fund owned 875,007 shares of the iPhone maker's stock after selling 31,266 shares during the period. Apple's iPhone 8 and 8 Plus have arrived, and despite shorter lines and smaller crowds than previous launches, some die-hard fans have queued as long as 10 days to be among the first to lay their hands on the new phones.

Reports from analysts such as KGI Securities have outlined the affects that the iPhone X will have on the iPhone 8 and iPhone 8 Plus preorders. Maxim Group increased their target price on shares of Apple from $163.00 to $171.00 and gave the company a buy rating in a research report on Wednesday, May 3rd. But he canceled his order on Tuesday after reading a critical review of the device. On Friday, there were fewer than 30 people lining up before the store opened, according to a Reuters witness. Others think consumers will wait a month after the iPhone 8 launch to try the iPhone X and then make a purchase decision. But the iPhone X is also over 40% more expensive than the iPhone 8, so is it worth the substantial extra outlay?

Much of Apple's performance over the next year will be determined by iPhone demand in China.

The most well-known Apple Inc.

Strong sales of all three new models would be the best scenario for Apple. Analysts are projecting a record 245 million iPhones will be sold in fiscal 2018, a 13% increase from the 217 million expected for the current fiscal year, which ends September 30. Said another way, the survey suggested 64% of iPhones in the next year will be either the iPhone X, iPhone 8, or 8 Plus, compared to our current model of 45%. Because the loudest iPhone fans are the ones who are holding out for the iPhone X. The iPhone 8 and 8 Plus are great phones, of course, but the iPhone X is completely redesigned.

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