MANILA - Apple officially priced its iPhone X in the Philippines ahead of its Dec. 1 release, as the 8 and 8 Plus models went on sale on Friday.
The near bezel-less iPhone X, the handset's most radical redesign since 2014, will cost a minimum P64,490, according to Apple's Philippine page. The base models sells for roughly P67,000 in unofficial stores.
In the US, the base model with 64 gigabytes of storage sells for $999 or roughly P51,000.
Apple priced the iPhone 8 Plus at P51,490 for the 64 GB model and P60,990 for the 256 GB variant, according to its website.
The smaller iPhone 8 starts at P44,990 for the base 64 GB model and P54,490 for the 256 GB model.
Local carriers Globe and Smart have also released their pricing for the new iPhones.
source: news.abs-cbn.com
Apple Inc's highly anticipated iPhone X features a slew of innovations but delayed availability could hurt holiday-quarter sales.
The much-hyped event on Tuesday unveiled three new phones, an advanced watch that can take calls and a new Apple TV, but die-hard fans will not be able to get their hands on the iPhone X until Nov. 3 - much later than iPhone 8's shipping date of Sept. 22.
The delay in shipping of the iPhone X could hurt Apple's seasonally-strong fiscal first quarter as orders get pushed to the following quarter. The phone will start at $999 for the 64 GB version.
Apple's shares were down 1 percent at $159.35 in early trading on Wednesday.
Although decked out with facial recognition technology, front and back glass, a 5.8-inch edge to edge display, wireless charging and animated emojis, some analysts said the delay tempers near-term sales and a few adjusted their estimates.
"Given one month less sales for the iPhone X during the December quarter, we have reduced our December quarter iPhone sales estimates from 84 million to 79 million units," Canaccord Genuity analysts wrote in a client note.
The company's iPhone 8 and 8 Plus did not veer far away from previous models, sporting modest new features such as a glass body, wireless charging, better camera and a faster processor. This could lead consumers to wait for the iPhone X.
"None of the features in the version 8 product will likely accelerate demand," Mizuho analysts wrote in a note.
Apple typically launches new iPhones in September and a big jump in sales usually follows in the holiday quarter, as users tend to upgrade devices when new phones sport significant design changes.
Apple last saw a significant uptick in sales with the introduction of iPhone 6 in 2015.
While the delay of the iPhone X could hurt near-term sales, analysts still think Apple's loyal and hungry fans would lap up the new phone, boosting sales for fiscal 2018.
Brokerage UBS said it continues to estimate 246 million phones in fiscal 2018 – up 15 percent.
Apple, which is trying to energize sales in China, could hit a wall selling the pricey new phones there. The 8 and 8 plus start at $699 and the iPhone X is Apple's most expensive phone.
The high price of the iPhone X may not affect sales in the United States, where telecom carriers subsidize phone ownership, but it might dent sales in China and India.
But even with the lack of major surprises, Apple's phones are still expected to sell well.
"It will still sell in enormous volumes because Apple has repeatedly demonstrated its ability to persuade consumers to shift their overall spending to place a greater share of their disposable income towards a smartphone purchase," IHS Markit analyst wrote in a note.
(Reporting by Supantha Mukherjee in Bengaluru; Editing by Bernard Orr and Saumyadeb Chakrabarty)
source: news.abs-cbn.com
At around $830 billion, Apple Inc's stock market value on the day of its newest iPhone launch towers over its next-largest rival and has Wall Street asking: Will it be the first listed company to crack the Big T?
If history is any guide, the unveiling on Tuesday of the iPhone X - the 10-year anniversary edition of Apple's ubiquitous device - signals that the $1 trillion milestone could well be breached within the year.
Apple shares on average have gained around 33 percent in the year following each of its previous iPhone launch events, dating back to the first one on Jan 9, 2007. It has gained in the following year after seven of the 10 announcements while falling in three.
From their current level, Apple shares need to gain roughly 20 percent to sport the world's first 13-digit market cap. (Some analysts and the Saudi royal family have pegged global oil giant Saudi Aramco's value at $2 trillion or more, but there will be no public record to confirm that until after its initial public offering next year.)
Of the 38 Wall Street analysts covering Apple, two already have price targets for the stock that see it driving above the $1 trillion level.
Brian White of Drexel Hamilton, whose $208 price target for the shares is highest on the Street and would equate to a $1.075 trillion market value at the current number of shares outstanding, came away from Tuesday's event convinced the stock has further to run.
"We continue to believe Apple's stock will not only benefit from the upcoming iPhone cycle but also the company's capital distribution initiative, attractive valuation and potential new innovations," White wrote in a note to clients. "As such, we do not believe Apple's run will end with today's iPhone event but still has attractive upside potential."
Morgan Stanley's Katy Huberty said in a note to clients after Tuesday's event that the augmented reality (AR) features in Apple's new phone lineup "has the potential to become the next killer app that accelerates smartphone upgrades and drives increased services monetization and growth."
Her current price target of $182, which is 13 percent above Tuesday's closing price of $160.86, would equal a market value of about $940 billion, but Huberty has a "bull case" target of $253 on the stock, or just over $1.3 trillion at current shares outstanding.
Apple shares are up 52 percent in the last year.
Apple unveils new iPhones
Apple has released the iPhone8 and iPhone 8 Plus, as well as the iPhone X
which has an edge-to-edge display and unlocks by facial recognition.
Since Apple first announced the iPhone product line in January 2007, its stock has gained more than 1,200 percent and delivered a total return, including reinvested dividends, of more than 1,375 percent. Its annualized total return of 28.7 percent in that period is nearly 3 times that of the Nasdaq Composite Index and almost 4 times what the benchmark S&P 500 has delivered.
And while at nearly $1,150, the new 256 gigabit iPhone X may seem like an eye-popping price, it is no more expensive - relative to Apple's stock price - than the first iPhone in 2007. The top-end version of the first generation iPhone, at $599, was worth a bit more than 7 Apple shares at the time, around the same as today in nominal terms.
Apple split its stock on a 7-to-1 basis three years ago. Adjusting for that, one share of pre-split Apple stock would be worth one nearly full iPhone X today.
source: news.abs-cbn.com
Apple on Monday unveiled two new iPhone 8 models, with a new glass-body design and other improvements on the iconic smartphone.
Apple chief executive Tim Cook told a media event that the new handsets, the iPhone 8 and larger iPhone 8 Plus, represent "a huge step forward" for the California tech giant, which is marking the 10th anniversary of the iPhone.
Apple senior vice president Phil Schiller said the new devices were the first smartphones "really created for augmented reality," with improved power and graphics.
The unveiling event was the first at Apple's new "spaceship" campus in Cupertino, California.
Apple also unveiled an updated smartwatch and an upgraded streaming video system for 4K high-definition television.
source: news.abs-cbn.com
Apple Inc on Tuesday rolled out its much-anticipated iPhone X, a redesigned product of glass and stainless steel with an edge-to-edge display that Apple Chief Executive Tim Cook called "the biggest leap forward since the original iPhone."
The phone features wireless charging, an infrared camera and special hardware for facial recognition, which will replace the fingerprint sensor for unlocking the phone. The home button found on previous iPhones is also gone, and users will instead tap the device to wake it up.
But in an embarrassing moment for Apple senior vice president Craig Federighi, the face ID unlocking did not work on his first attempt during the on-stage presentation.
The phone, which is priced at $999 and ships on Nov. 3, as well as the holiday shopping season that will follow are the most important for Apple in years.
Shares of Apple were last down 1.3 percent after erasing gains of up to 1 percent during the launch event.
The company has sold more than 1.2 billion iPhones over the past decade and ushered in the era of mobile computing, but last year had a substantial decline in revenue as many consumers rejected the iPhone 7 as being too similar to the iPhone 6.
The screen on the iPhone X -- pronounced 10 -- is about the size of the current iPhone 7 plus, though the phone itself is smaller. It features richer colors thanks to a new technology called OLED that other vendors such as Samsung are also rolling out.
Apple also introduced the iPhone 8 and the iPhone 8 Plus, which resemble the iPhone 7 line but have a glass back for wireless charging.
The new phones feature Apple's first proprietary graphics processor, which provides greater speed, improved cameras and some features for augmented reality apps.
The cheapest phones have 64 gigabytes of memory, up from 32 gigabytes in previous models, and will sell for $699 and $799.
The company also introduced an upgraded Apple Watch, which can make phone calls and access the internet without the user carrying an iPhone. The Series 3 watch will cost $399.
Apple did not provide sales figures for its watches, but Cook said sales had risen 50 percent from the year before and that the Apple Watch was now the best-selling watch in the world.
Gene Munster, an analyst with Loup Ventures, believes sales of the watch could double or even triple because of the new connectivity.
The upgraded Apple TV will support the high resolution display known as 4K and will also feature more programming options as Apple steps up its efforts to cut content deals and produce its own shows.
FLASHY NEW CAMPUS
Cook opened the event at the Steve Jobs Auditorium on Apple's new campus with a tribute to the company's co-founder and former CEO Jobs, who died in 2011.
The Apple building itself was considered to be Jobs' final product, and Cook spent a few minutes boasting about the design, energy-saving features and public spaces at the new campus, including a flagship Apple Store.
The theater, never before open to the public, features an expansive glass-enclosed lobby, with two massive white stone staircases leading down to the auditorium. Inside, the decor is similar to that of Apple's stores, with hard maple flooring and tan leather seats. - with a report from Agence France-Presse
source: news.abs-cbn.com
