Apple, Inc. (NASDAQ: AAPL) release of the iPhone X has hyped up many fans but announced delayed availability that could hurt holiday quarter sales. The company revealed 3 new phones, an upgraded watch, as well as a new Apple TV, however, customers will not be able to receive orders of the iPhone X until November 3 which is much later than the iPhone 8’s shipping date of September 22. Starting at $999 for the 64 GB version, the iPhone X delay could hurt Apple’s seasonally strong fiscal first quarter as orders are getting pushed to the quarter after. The company’s shares fell 1% at $159.35 in early trading on Wednesday.
Analysts believe that this delay will hinder near term sales and have reduced their December quarter iPhone sales estimates from 84 million to 79 million. The company typically launches new iPhones every September following an increase in sales in the holiday quarter. In 2015, Apple reported an increase in sales after the introduction of the iPhone 6. Even though there is a delay of the iPhone X releasing date, analysts believe that customers would purchase the new phone that will boost sales for fiscal 2018. The company could also have a hit in sales in China where the iPhone 8 and 8 plus’s starting price is $699.