Apple’s Stock Just Hit an All-Time High
Apple shares just reached a new record high.
The technology giant’s stock briefly hit $168.07 Monday morning amid reports that pre-orders of its upcoming iPhone X are brisk. That topped a previous all-time intraday high in September of $164.94.
Pre-orders for Apple’s (AAPL) iPhone X started on Oct. 27, and the luxury device almost immediately sold out. The iPhone X is Apple’s most expensive iPhone ever, starting at $1,000, and includes new features like wireless charging and the ability to unlock the phone using one’s face.
The early interest in the phone seems to dispel worries that the high-price would turn off potential customers.
Still, Apple hasn’t revealed how many iPhone X it’s selling as part of its initial supply. As Fortune’s David Meyer noted, technology analysts have speculated that the iPhone X’s initial run would between two to three million devices, compared with an estimated 10 million of the iPhone 6 during the weekend it premiered.
IPhone X will be available in stores and start shipping on Nov. 3.
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Tech analysts and investors seem pleased with the smartphone’s sales so far. Analyst Daniel Ives, for example, said Apple’s initial pre-orders are a “stellar success,” according to Reuters.
“With the official launch of iPhone X in Apple retail stores slated for this Friday, Nov. 3, we anticipate very high demand globally with limited supply of iPhone X on hand,” Ives said in a research note.
Later in the day, Apple’s shares pulled back from their record high and ended up trading at $166.72 at the market’s close. Apple shares were roughly flat at $166.75 in after-hours trading on Monday.