"I haven't seen this much excitement around a new iPhone since the iPhone 6 and 6 Plus," Loop Capital Markets analyst Anthony Chukumba said in an interview with TheStreet on Tuesday, Sept. 12, when Apple will debut three new iPhone models - the 8, 8 Plus and X.
The iPhone X, backed by 256 gigabytes of memory, is expected to cost $1,100, which could mean that customers skip other purchases, like a daily latte or a new shirt or two, to foot the phone's cost. Therein lies the danger for companies such as Starbucks Corporation (SBUX) - Get Starbucks Corporation Report or Macy's Inc. (M) - Get Macy's Inc Report , that could see sales dip.
"Phones are a necessity," added Chukumba. "People will definitely forgo other purchases to afford this iPhone. I can see a scenario where you might go, 'OK, I'll make one less trip to Starbucks.' "
Chukumba said that it's "entirely possible" for any company's sales where consumers typically make impulse buys to suffer from the iPhone launch including at Starbucks, McDonald's Corp. (MCD) - Get McDonald's Corporation (MCD) Report and Wendy's Co. (WEN) - Get Wendy's Company Report or even retailers like Macy's , J.C. Penney Co. Inc. (JCP) - Get J. C. Penney Company, Inc. Report and Nordstrom Inc. (JWN) - Get Nordstrom, Inc. (JWN) Report .
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Most buyers are unlikely to plunk down $1,000 plus for an iPhone X. Instead, they'll opt for monthly installments, which could be $50. That's equal to about 16 $3.25 Tall Coffee Frappuccinos at Starbucks.
Apple released the 6 and 6 Plus models in 2014. It was the first time the tech titan launched two different sizes, the 4.7-inch and 5.5-inch screens.
Here is what we know about the new iPhone.
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