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Why Consumers Are Favouring the iPhone7 over the iPhone 8

According to Reuters, the value of shares in Apple has been falling since October 19th because of weak demand for the iPhone 8, since its release on September 22nd. A survey of wireless carrier stores in the U.S. and Canada demonstrated that users prefer to buy older iPhone 7 models, rather than the recently launched iPhone 8, while others are waiting for the new iPhone X to be released in November.

It’s not uncommon for Apple fans to wait many hours in line to get their hands on the latest version of their favourite phone. However, all available data seems to show that the iPhone 8 hasn’t been particularly popular, compared with figures for other newly released iPhones over the years.

One advantage of the iPhone 7 over the iPhone 8 is its price. The iPhone 7 is much cheaper. Most customers fail to see the benefits of the iPhone 8’s enhancements that would justify spending about $150 more. Unlike the iPhone 7, the iPhone 8 has a new bionic chip and a glass back designed for wireless charging, among other new features.

The slow uptake of the new iPhone could also be due to less aggressive marketing and advertising ahead of its release, compared to the blaze of publicity for the iPhone 7. However, Apple sales – and its stock price – should get a major shot in the arm when the iPhone X, the company’s most advanced and expensive device ever, finally hits the stores.

Apple stock reached its highest level of $164 in early September, but has been declining ever since, falling as low as $150. From 2007 onwards, when the company launched its first smartphone, Apple’s fortunes have been tied to the iPhone. Previously, its main sources of income had been its computers and iPods. Apple now needs to deliver superior innovation and fresh products – not just new iPhones – to provide compelling reasons for investors to keep buying its stock.

Nevertheless, as a trader, Apple is always a good stock to have in your portfolio, due to the company’s large cash reserves and strong earnings growth. Whether you are bullish or bearish on this key stock, you can use online brokers and be a stock trader thanks to leading platforms such as UFX, which enable millions to take advantage of the price movements of many of the world’s most popular assets.