Apple Stock News: iPhone X: Short Supply for High Demand

Apple Stock News

The pre-order for the iPhone X started this weekend on a high note, with the new device selling out minutes after being put on sale. The demand for the new phone was very high (as I Know First had previously predicted), and the limited quantities available, are the main reasons specialists are pointing out as explanations as to how the new device sold out so quickly. 

Shortly after the pre-order sold out, resellers began appearing on Ebay, charging anywhere from $1500 to $60,000 for the simpler version of the iPhone, with a markup from the official price practiced by apple that is $999. Resellers are hoping to receive money for the phones by guaranteeing the delivery will be made by the official launch date.

Meanwhile, Apple continues to struggle to produce the quantity needed to meet the demand.Pre-order sales made by October 28th should be delivered to customers only in December (well after the launch date on November 3). With some experts predicting that before the end of the pre-order period, Apple will sell about 40 million units of the new iPhone, a quantity that the company will only be able to deliver in April or May of the next year.

For the latest Apple Stock News, AAPL closed at $163.05 per share on October 27th, 2017. It generated a profit of 3.58% from its previous close on October 26th, 2017, when it closed at $157.41 per share.

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