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Apple shares up on analyst reports of strong iPhone X sales

Published 10/30/2017, 09:16 AM
© Reuters.  Apple shares up on analyst reports of strong iPhone X sales
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  • Apple (NASDAQ:AAPL) shares are up 0.66% premarket after analyst reports show high iPhone X demand after preorders started on Friday. Shipments start November 3.
  • Drexel Hamilton analyst Brian White writes that he’s “encouraged that shipping lead times have held steady at 5-6 weeks because these pre-orders can be recognized as shipments in the December quarter.”
  • Apple had told CNBC on Friday that initial response showed “customer demand is off the charts.”
  • Apple’s good news has brought Japanese suppliers TDK Corp, Foster Electric, and Taiyo Yuden along for the ride with the companies all trading up despite a flat Nikkei performance on Monday.
  • Previously: Tech on track for best day since election (Oct. 27)
  • Now read: Apple Continues To Outperform

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