Reports that Apple Inc.’s iPhone X could be delayed beyond the Nov. 3 launch date are “inaccurate,” said analysts at Citigroup in a note to clients Monday. They wrote in a note to clients that given supply chain checks, they are “confident” the iPhone X will launch on time, but they believe continued “sub-optimal production yields” will lead to demand outstripping supply and sales estimates that are below current consensus analyst expectations. Citigroup analysts said they expect “volatility” in the stock near term, but maintained the buy rating as customers waiting for the iPhone X sets Apple up for stronger-than-expected 2018 results. The stock rose 0.3% in premarket trade. It has run up 7.7% over the past three months, while the technology-heavy Nasdaq 100 has climbed 7.2% and the Dow Jones Industrial Average has advanced 6.4%.
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