How the iPhone X could make Apple a $1 trillion company
Business Insider CEO Henry Blodget and chief tech correspondent Steve Kovach discuss Apple‘s new iPhone X. Kovach got the phone before its release, and says he loves it, citing the functionality and screen presentation, and praising the Face ID feature. He notes that the muted excitement over the iPhone 8 release just over a month ago might’ve been because people were holding out for the X, which he says suggests people aren’t scared about the $1,000 price tag.
Blodget and Kovach talk about what the iPhone X launch could mean for Apple’s stock, which has historically rallied into new product events. Kovach says that iPhone X sales will easily bleed into next quarter, because of the lead time required to pre-order one. Blodget then runs through some analyst forecasts, including Piper Jaffray, which says that Apple’s stock can hit $200 backed by an increase in the phone’s average selling price, which would bring its market cap to $1 trillion.