Analysts cut iPhone X shipment forecasts

The stock has soared 51% this year, bringing its market value to almost $900 billion

Apple looks like it’s having a not-so Merry Christmas.

Analysts have lowered iPhone X shipment projections for the first quarter of next year, citing signs of lackluster demand at the end of the holiday shopping season.

Sinolink Securities Co analyst Zhang Bin said in a report Monday that handset shipments in the period may be as low as 35 million, or 10 million, less than he previously estimated. “After the first wave of demand has been fulfilled, the market now worries that the high price of the iPhone X may weaken demand in the first quarter,” Zhang wrote.

JL Warren Capital LLC said