Apple Stock News
The Apple Watch officially goes on sale on April 24th, but it was made available for pre-order of Friday at 3 a.m. EST, or just after midnight for PST, where Apple is located. Online orders were available to be delivered on this date, but they went out of stock quickly, with some models not being available until June or July in just half an hour. All 10 versions of the entry-level Sport model are unavailable until June according to the website, with some of the less popular mid-tier models available after 4-6 weeks.
Optimism surrounding the launch of Apple’s newest product has helped push the company’s stock price to record highs this year. The rollout of the first new product under CEO Tim Cook will be watched closely by investors to see if Apple can still innovate after the passing of former CEO Steve Jobs. For this product launch, the company is testing a new sales strategy, where customers are encouraged to order online or set up an appointment to try on the devices in stores.
So far, the demand clearly outweighs the supply, but that does not necessarily mean that the Apple Watch will be a success. The number of devices made available for pre-order is unknown, and the company is juggling a limited supply as well as a need to have models available in stores. The extended delivery time might not mean much for overall sales, which will not be clear until after the initial wave of purchases among Apple fans, as the device must be paired with an iPhone 5 or newer.