Apple shares drop on iPhone 8 demand worries
21/10/2017
Bengaluru: Apple’s shares fell 1.5% in premarket trading on Thursday as brokers and traders speculated over poor demand and cuts in production of iPhone 8, ahead of the November launch of the 10th anniversary iPhone X.
Apple no longer gives regular updates on sales numbers but indications from supply channels, phone operators and analysts who track the sector have fueled talk of poor sales for the latest update of the smartphone.
KeyBanc Capital Markets analyst John Vinh reported earlier this week that a carrier store survey suggested the iPhone 7 was outselling the new phone just a month after the latter’s launch.
The iPhone X, eagerly awaited by fans, will go on sale from November 3 and may also be weighing on demand.
Analysts believe Apple is likely to focus more on iPhone X, which looks radically different with an edge-to-edge display, and will retail from $999.
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