Apple fans may be miffed about the supply chain delays hitting the much-anticipated completely new iPhone X, however Apple investors don’t have much to worry about, according to a Wall Street analyst.
“This specific’s certainly better than the alternative,” meaning lower demand, Andy Hargreaves, an analyst at KeyBanc, told CNBC’s Power Lunch on Friday.
Pre-orders for Apple’s flagship completely new mobile device began overnight, in addition to also the company said demand was “off the charts.”
For many people who pre-order the phones, however, that will heavy interest means the $1,000 phone won’t ship until at least December. One analyst said Apple had at most 3 million devices on hand, despite selling as many as 13 million iPhones inside opening weekend of the iPhone 6S.
that will shouldn’t be a problem for Apple shares, however.
Hargreaves said that will if revenue misses because of supply, “that will’s something that will investors would certainly largely look through.”
Apple customers will be able to pick up the 10th anniversary Apple phone in stores starting Nov. 3.
“We’re working hard to get This specific revolutionary completely new product into the hands of every customer who wants one, as quickly as possible,” Apple told CNBC.
Apple shares rose more than 3.5 percent late Friday afternoon, at $162.99. The stock will be up more than 40 percent so far This specific year.