iPhone X Skeptics May Be Underestimating Demand

Two months ago, Apple (NASDAQ: AAPL) began taking pre-orders for the iPhone X. iPhone fans immediately rushed to get in line (figuratively) for the greatest iPhone yet, driving lead times to as much as six weeks.

iPhone X lead times have fallen dramatically over the past month, though. Indeed, Apple has nearly reached supply demand equilibrium. This has led some analysts to worry that demand hasn't lived up to expectations. However, usage statistics indicate that Apple has sold a lot of iPhone X units this quarter. Furthermore, strong interest from China should boost iPhone X sales next quarter.

Not too long ago, most pundits believed that the iPhone X would be in short supply throughout the holiday season. The initial surge in wait times seemed to validate predictions of a "super cycle" of above-trend iPhone sales growth, driven by strong upgrade demand and market share gains.

Source: Fool.com