IPhone X Demand Fuels Apple’s Holiday Sales
Apple Inc. forecast holiday sales that exceeded most analyst estimates, a sign it expects robust demand for the new iPhone X, the company’s most important product launch in years. The 10-year anniversary iPhone will help push sales to a record high of $84 billion to $87 billion in the quarter ending in late December, Apple said in a statement. Analysts predicted revenue of $84 billion, according to data compiled by Bloomberg. Suppliers have struggled to ramp up production effectively for the device as it goes on sale Friday in stores. The current six-week waiting time for online iPhone X orders will be reduced in the next two days as Apple adds more capacity, Chief Executive Officer Tim Cook said in an interview on Thursday.