Apple Inc quashed any concern of muted demand for its iPhone X on Friday, saying pre-orders for the 10th anniversary phone were "off the charts". While some expect a pickup after the iPhone X goes on sale in November, others cautioned that phone's price tag could weigh on demand. Major promotions on the iPhone X from U.S. carriers have yet to materialize, and in some cases, the offers have been even less generous than what was available for the iPhone 8, said Walter Piecyk, an analyst at BTIG in a research note on Thursday. He noted that Sprint Corp's iPhone X promotion of $350 US in savings for trading in an eligible device was the most aggressive but still lower than what it offered for last yearΓÇÖs launch of the iPhone 7. Shares of Apple rose 3.6 per cent to close at $163.05 US on Friday in New York.

Source: CBC News October 27, 2017 15:22 UTC