iPhone X Predicted to 'Absorb' Up to $30B in Holiday Spending at Expense of Other Retailers
high demand iphone x drive upgrade "supercycle" holiday season see shoppers spending bulk of holiday cash @ apple stores, according note morgan stanley analyst katy huberty (via business insider).
given high price of iphone x, starts @ $999, iphone x "absorb" $30 billion of discretionary spending during holidays, impacting other retailers. huberty believes customers drawn of new features in iphone x, , reduce spending in other categories in order afford device.after spending upwards of thousand dollars on phone, huberty believes customers left thinking things "'i bought $1,000 phone last month, don't need pair of jeans.'"
combined, huberty believes iphone x, iphone 8, , iphone 8 plus take approximately $52.6 billion of spending away other categories holiday season. given limited supply of iphone x, other retailers impacted sales of device 2018 apple works reach supply/demand balance.
apple has not provided insight iphone x sales far, company has said demand new device, sold out in few minutes after pre-orders went live, "off charts."
article link: iphone x predicted 'absorb' $30b in holiday spending @ expense of other retailers
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apple no longer makes money, absorb it.
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