Early Friday morning, Apple CEO Tim Cook said what iPhone fans and Apple investors are all thinking today: “It’s time!” The iPhone 7 is now officially available and hopes are high that demand will remain strong and the stock will keep trading at its record high for the year.
With some models of the iPhone 7 already sold out in preorders, Apple stock rallied for the fourth day in a row Thursday, closing the day at $115.57 and continuing a sharp rebound from a two-year low in July. This could also be a huge weekend for Apple sales—with the iPhone 7, iPhone 7 Plus and Apple Watch 2 all in stores today.
Shoppers who order iPhones online may have to wait as long as two months to get their new model, USA today reports. Further muddying earnings predictions is the company’s decision not to disclose exactly how many of its phones sell over on the first weekend.
“As we have expanded our distribution through carriers and resellers to hundreds of thousands of locations around the world, we are now at a point where we know before taking the first customer pre-order that we will sell out of iPhone 7,” Apple spokeswoman Kristin Huguet told Fortune. “These initial sales will be governed by supply, not demand, and we have decided that it is no longer a representative metric for our investors and customers.”
Still, the company is positioned to perform well compared to previous years. Piper Jaffray and S&P Global Market Intelligence predict Apple will sell 13 million iPhones this weekend, topping last year’s haul for the iPhone 6s and 6s Plus.