Apple Inc. (AAPL) shares listed in Germany declined and U.S. shares fell 0.6% in premarket trading on Wednesday as investors reacted to news that the tech giant's new $1,000 iPhone X won't launch until the new fiscal year.
Sales of the new anniversary iPhone edition likely will begin in early November, well in time for the peak of the U.S. holiday shopping season but still likely to push a good portion of the phone's revenue into the December to March quarter, the second of the company's next financial year.
"Apple is hoping the later availability date for iPhone X will not affect iPhone 8 sales this quarter," said IHS Markit in a research note. "Apple's lower iPhone 8 pricing should limit the impact, but it remains a risk. iPhone X is the future of smartphone design, but it's also available in the future too."
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