Apple (NASDAQ:AAPL) has Limited Supply of New iPhone7
If you are looking to buy Apple’s (NASDAQ:AAPL) new iPhone7 smartphones Friday you has better have ordered ahead. As some stores sold out, leaving those who purchased online with the best chance to get the latest models.
Apple stores around the world turned away customers who had not already ordered online.
Apple made several changes to its flagship product: camera upgrades, a faster processor, longer battery life and a new water and dust-resistant design.
However the size and shape are not that different from the iPhone6 line, apart from a Key change. That being the one people are talking about, the removal of the headphone jack. But it did not deterred customers showing up on Friday on the 1st day of sales.
The challenge for Apple now, as in years past, is making sure there are enough to meet demand.
Customers who did not pre-ordered the larger iPhone7 Plus models will be unable to buy them in Apple stores Friday, the company said earlier this week.
That means a move to black-market tactics, with some customers flipping there smartphone in street sales for cash.
The 5.5-in-screen model boasts a dual back-facing camera system, and analysts said inadequate supply of components for that feature has held up manufacturing.
There are 2 versions of the new iPhone7: the 7 & 7 Plus, which start at $649 and $769 respectively. Both come in silver, gold, rose gold, matte black and jet black colors.
The 1st customers to obtain the new models were in New Zealand, Australia, Japan and China.
T-Mobile US Inc. and Sprint Corp. (NYSE:S) said this week that pre-orders for the new models were almost 4X as great as for previous models, helping drive Apple stock to its highest level in almost 5 years.
That is welcome news for Apple, which analysts expect will suffer its 1st annual sales decline since Y 2001.
Apple is likely to sell 44-M iPhones in the 3 months through September, down from the 48-M sold in the same frame a year earlier.
Apple’s iPhone Upgrade program started in the US and is being introduced in China and the UK this year.
Customers pay a monthly fee and can upgrade their handset once a year, potentially stabilizing iPhone sales in weaker years and helping Apple predict revenue more accurately. Apple has set aside new models for iPhone Upgrade customers to pick up beginning Friday.
|NASDAQ:AAPL||114.92||16 September 2016||-0.65||115.12||116.13||114.04||79,739,400|
|HeffX-LTN Analysis for AAPL:||Overall||Short||Intermediate||Long|
|Bullish (0.39)||Bullish (0.35)||Bullish (0.42)||Bullish (0.39)|
Have a terrific weekend.