Apple stock is jumping because the iPhone 7 is exceeding expectations
Stephen Lam/Getty Images
Two major American wireless carriers, Sprint and T-Mobile, announced on Tuesday that iPhone 7 presales were exceeding expectations. T-Mobile said the iPhone 7 set a single-day sales record, and Sprint said that iPhone 7 and iPhone 7 Plus preoders were up more than 375 percent.
Additionally, the first batch of iPhone 7 reviews were published by the tech press and mainstream media, and although they weren't glowing, many professional gadget reviewers believe the iPhone 7 is nonetheless the best phone on the market.
Previously, Apple advised that it was not planning to release first-weekend presale numbers, a data point analysts traditionally used to gauge how big an iPhone launch is going to be. Apple's decision not to release presale orders marked a change from its previous practices, raising concerns among some investors that the move reflected the company's tempered expectations at a time when revenue from the iPhone business is experiencing its first ever decline.
The iPhone 7 officially hits store shelves on Friday.
Here's the chart:
- Tesla tells some laid-off employees their separation agreements are canceled and new ones are on the way
- Taylor Swift's 'The Tortured Poets Department' is the messiest, horniest, and funniest album she's ever made
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- The Future of Gaming Technology
- Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
- Sustainable Transportation Alternatives
- 10 Foods you should avoid eating when in stress
- 8 Lesser-known places to visit near Nainital