iPhone 7 News & Update: Sales Will Taper Over Anticipation Of iPhone 8?

Joe BacaronSep 21, 2016 10:05 AM EDT
Facebook/iPhone 7

Apple is not sharing the initial sales figures for the iPhone 7, but tech news sites are saying that sales will eventually stagnate as consumers wait for the rumored iPhone 8, which was supposed to be launched as early as next year.

Whether or not the iPhone 8 will come out next year, something big is bound to come out of Apple considering that 2017 would be the 10th anniversary of the iPhone.

Colin Gillis, senior tech analyst for BGC Financial, told Sydney Morning Herald that the sales will predictably slow down down the road.

He explained, "The upgrade rate for the next iPhone may slow even more than the upgrade rate cycle of 6S, which has been materially lower than the upgrade rate of the iPhone 6."

Nevertheless, Apple is riding high on the hype for the iPhone 7 as sales dragged up the shares in the stock market to $111.77, which was supposed to be a nine-month high. Stocks for the company also went up to 7 percent, according to news reports.

But Angelo Zino, S&P Global Market Intelligence financial analyst, expects those high numbers to go down before the end of the year.

"As the (10th-anniversary iPhone) nears, expect an air pocket in iPhone 7 sales," Zino added.

In related news, the initial stock of the iPhone 7 Plus and the jet-black model are already sold out. The report said that if people see one in stores, chances are it's already reserved for somebody else.

Watch out for more news on the iPhone 7, which will be published here when they come along.

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