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Apple Inc. (NASDAQ:AAPL) iPhone 6S Parade Gets Stuck in UK Mud

Apple Inc. iPhone 7 specs and rumors

Apple Inc. created a new market for gadgets with the launch of the first iPhone in 2007 and it doesn’t seem that the demand will slow even after 8 years. The constant growth in demand with each new generation of iPhone is a feat that none of Apple’s rivals in the smartphone space have been able to copy. Demand for the new iPhone 6S and iPhone 6S Plus is making waves as the new devices become available in 12 countries including U.S., U.K. and China today.

Apple Inc. iPhone 6S price

Apple has already said that “Customer response to iPhone 6S and iPhone 6S Plus has been extremely positive and pre-orders this weekend were very strong around the world”. It appears that love for iPhones has not waned and the firm will report stellar results in the next three months.

iPhone 6S Sales on Pace to Beat iPhone 6 Sales Record

A couple of weeks ago, Apple hinted that the sales of iPhone 6S and iPhone 6S Plus was “on pace to beat last year’s 10 million unit first-weekend record”. Apple did not go ahead with a breakdown of the number behind the numbers and the tech space started to wonder if Apple was unsure about how well the new iPhones will fare.

Analysts initially thought that Apple would see a slow down in demand for the iPhone as the Chinese economy starts to slow down. However, analysts are now reviewing their position with the new thesis being that Apple will report another record sales of the iPhone 6S.

Analysts at FBR Capital Markets note that Apple is on “a trajectory to exceed Herculean-like YOY (year-on-year) iPhone 6 comps in the December quarter with our estimates now 77 million units (versus our prior 74 million), likely alleviating lingering bear chatter”.

Apple Fans are Defying the Elements to buy iPhones

The Telegraph notes that Apple sold six iPhones every second and the report goes on to forecast that the new iPhone will be another record breaker. The response of buyers provides an insight into the elasticity of demand for the iPhone.

Apple has tried to push a “significant change in mindset” by taking pre-orders for the iPhone online in order to dissuade long queues in from of its stores; yet, The Telegraph reports that hundreds of fans are queuing outside Apple stores.

Australian fans typically get new iPhones ahead of everyone else because of the time zone and they are queuing outside of Apple Sydney store. In fact, it was said that one man has been queuing for more than two weeks.

In the UK, fans are defying the rain to queue outside of Apple Store in Covent Garden in Central London. One of the people on the queue, Sam Shaikh has been on the queue for more than 83 hours. He was quoted saying, “it is wonderful, I have bought one for me and one for my friend”.

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Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.

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