Apple Inc. (AAPL) Stock Rallies Again – After Slipping On Google’s Big Day

Apple Inc. (AAPL) Stock Rallies Again – After Slipping On Google’s Big Day
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Apple Inc. (NASDAQ:AAPL) stock recovered on Thursday after a brief hiccup as investors digested the reports that the iPhone X could be delayed until December. We have heard rumors about the ultra-premium iPhone model being delayed since earlier this year when all that was known was that Apple Inc. (AAPL)was working on a special tenth anniversary edition model. Then when Apple Inc. (AAPL) finally revealed the iPhone X, it announced that shipments would start in early November, but now there’s a report that those who are set on having an iPhone X might have to wait at least another month for it.

Apple Inc. (AAPL) stock pulled back a bit on Wednesday when this latest report of another delay for the iPhone X landed on Twitter. Investors shook the shock off quickly, however. Analysts have been emphasizing since before the iPhone X was revealed that it doesn’t matter if Apple Inc. (AAPL) rakes in sales of its ultra-pricey model in September, October or even later, so the news of yet another delay certainly hasn’t shaken the conviction of Apple Inc. (AAPL) stock perma-bulls at all.

However, one thing investors should start asking themselves is how long is too long? There are two separate problems here. Not only might the iPhone X release be pushed into December, but the supply is still likely to be constrained. Thus, the focus becomes how long consumers are willing to wait for the iPhone X, which bulls are praising as Apple’s ticket to a much higher average selling price.

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Apple Inc. (AAPL) stock perma-bulls are touting their surveys which suggest that consumers are indeed willing to shell out $1,000 or even $1,150 for an iPhone X, but they aren’t asking this burning question of consumers. How long will you wait for the iPhone X before settling on the iPhone 8 or even a device made by a competitor?

For example, RBC Capital analyst Amit Daryanani released his latest iPhone X survey earlier this week. His firm surveyed 4,000 consumers, and after reviewing the results, he remains bullish on Apple Inc. (AAPL) stock because it suggests increases in average selling prices and gross margins.

His survey indicated that 28% of respondents wanted an iPhone X, while 64% want one of this year’s new iPhones, which includes the iPhone 8 and 8 Plus. Interestingly, that’s actually a decline from last year when 71% wanted an iPhone 7 or 7 Plus. He said the results point to a mix shift toward the iPhone X, which he said is the most popular phone despite the hefty price tag.

The analyst also found a shift toward higher memory configurations, which should also boost average selling prices and gross margins. This year Apple Inc. (AAPL) removed the middle memory tier, which is undoubtedly aimed at getting people to shell out even more memory for the top tier with 256GB of storage. According to Daryanani, 57% of prospective iPhone X buyers want the model with 256GB of storage.

Apple Inc. (AAPL) stock closed up 1.24% on Thursday at $155.39. On Wednesday, Apple Inc. (AAPL) stock was a heavy weight on the Dow Jones Industrial Average, which soared into record territory early in the day. However, Apple Inc. (AAPL) stock tumbled, and its heavy weight was enough to anchor the Dow and keep it from going even higher. The Dow rose 13 points on Wednesday, but on Thursday, it was a whole other story. Apple Inc. (AAPL) stock gave the Dow a boost, supporting it on Thursday to keep it close to session highs by adding 12 points.

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Michelle Jones is editor-in-chief for and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at
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