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Why Apple Stock Got Bit Today

·2 min read
Why Apple Stock Got Bit Today
In this article:
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  • AAPL

Investment bank Wedbush is reporting this morning that despite chip deficits and supply chain hurdles, the tech giant is on pace to sell 10 million iPhones this Black Friday weekend. As The Fly reports this morning, Wedbush analyst Daniel Ives is "seeing shortages in many Apple stores" -- which sounds like bad news, but is actually more evidence that Apple's iPhones are selling like proverbial hotcakes. In fact, according to the analyst, "10 million iPhones" could be just the beginning of the good news; through Christmas, Ives thinks Apple could move as many as 40 million units.