iPhone X Demand Has Driven Apple's Share Price to an All-Time High

Shares of the consumer electronics giant Apple have hit an all-time high of $168.07 USD as of Monday morning, valuing the company overall at an estimated $860 billion USD. This development comes from reports that pre-orders of its upcoming iPhone X are energetic. This tops its previous all-time intraday high in September of $164.94 USD.

Pre-orders for Apple’s iPhone X started on October 27 and the smartphone sold out instantly. Early interest in the phone seems to dismiss concerns that the high price would turn off possible buyers. Apple has yet to reveal how many iPhone X’s have been produced for its initial supply. Analysts speculate the smartphone’s initial run would be between 2 to 3 million devices, about 8 million fewer units than the iPhone 6 during its premiere. Recently, some lucky customers had their pre-order ship dates pushed up from mid-November to November 3.