iPhone 11: Demand for Apple’s new phones is beating analysts’ estimates

Pre-orders for Apple Inc’s latest iPhones have gotten off to a better start than the last cycle a year ago, several Wall Street analysts said on Monday, citing their own research data.

The company last week unveiled three iPhone models featuring upgraded processors and new camera functionality, including iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max, priced between $699 and $1,099.

CNBC quoted TF International Securities analyst Ming-Chi Kuo, known as a close follower of the Cupertino, California-based company’s supply chains, as saying that demand for new iPhones is beating his expectations – and that much of it was due to Chinese consumers.