In a note to clients — as noted by AppleInsider — KGI Securities analyst says the Apple Watch Series 3 is selling better than expected and the iPhone X is stealing sales from the iPhone 8 and iPhone 8 Plus.
He estimates that the LTE-enabled Apple Watch Series 3 has accounted for between 80% and 90% of preorders. Apple began accepting orders last Friday, and the first shipments will arrive on Friday, Sept. 22.
Kuo says the iPhone X has cannibalized some iPhone 8/8 Plus orders. The analyst expects investors to have a conservative outlook for the iPhone 8/8 Plus, while consumers await the debut of the iPhone X, which goes on sale Oct. 23.