Apple CEO: Manufacturing of iPhone X going well
Apple CEO Tim Cook said Thursday that the ramp-up of iPhone 10 manufacturing is going well, but said he can't say when supply will match demand.
Why it matters: Cook's comments followed a strong earnings report and forecast of a record holiday quarter. The numbers, in particular, should go a long way to easing investor concerns and shares were up more than 3 percent in after-hours trading.
"The ramp for iPhone X is going well, especially considering iPhone X is the most advanced iPhone we've ever created and it has lots of new technologies in it," Cook said on a conference call with analysts, adding that supply is increasing week by week. "We're going to get as many of them as possible to customers as soon as possible. I can't predict at this point when that (supply/demand) balance will happen."