While it had been clear before the launch that Apple was struggling with iPhone X production, with everyone talking about extremely constrained supply, and some reports of a delayed launch, most were still surprised that the device wouldn’t begin shipping until November 3.
But investors seem unmoved by the news, AAPL’s stock price scarcely moving in pre-market trading, and analysts seem likewise unconcerned …
Business Insider noted that while the delayed launch will hurt the current quarter and fiscal year, analysts were still focused on the anticipated super-cycle once the flagship phone does go on sale.
The site rounded up investor notes from seven major analysts. Of these, all but Deutsche Bank were bullish. The German bank rated the stock a hold, commenting on the lack of surprise.
Ultimately though, it doesn’t really matter, because there’ll be so much demand for the new iPhones when they arrive.
Most, though, were focused on the fact that a large installed base of iPhones two or more years old, there is huge potential for upgrades. BMO Capital Markets reflected this sentiment.
Nomura Instinet felt the same, and was also optimistic about the new Apple Watch.
RBC Capital Markets sees the average selling price increasing significantly.
Macquarie did, however, warn that availability of the iPhone X was likely to be poor into at least the first quarter of next year, and possibly beyond.
One interesting impact of the delayed iPhone X launch is that Apple’s financials for the current quarter (ending September 30) will give a good insight into sales of the iPhone 8/Plus ahead of the flagship going on sale.
