Apple Inc. (AAPL) CEO Tim cook downplayed fears of demand shortages for Apple's new iPhone 8, saying that the device, as well as the Series 3 Apple Watch, was sold out in "many locations."

"We're working really hard to meet demand. We've sold out of iPhone 8 and 8 Plus in some stores, but we've got good supply there. You can see what's going on here this morning - I couldn't be happier," Cook told CNBC. 

Reported glitches that hinder the Watch's connectivity to the cellular network has raised fears that demand would falter as a result. 

"The issue is very minor, it will be fixed in a software update," Cook said. "It has to do with the handoff between Wi-Fi and cellular, and we'll fix that. It only happens in a rare number of cases. I've been using it for quite a while and it works great. So we're very happy about it." 

Watch: Get Your First Look at the Futuristic Apple iPhone X

More of What's Trending on TheStreet:

Editors' pick: Originally published Sept. 22.

More from Stocks

Tesla: What Are Wall Street's Best Analysts Saying Now?

Tesla: What Are Wall Street's Best Analysts Saying Now?

In Trump Era, Managing JPMorgan Is As Unpredictable As a Midnight Tweet

In Trump Era, Managing JPMorgan Is As Unpredictable As a Midnight Tweet

Wall Street, European Stocks Edge Lower Ahead of Trump-Putin Summit in Helsinki

Wall Street, European Stocks Edge Lower Ahead of Trump-Putin Summit in Helsinki

Xiaomi Has Much to Prove After a Tepid IPO

Xiaomi Has Much to Prove After a Tepid IPO

Trump-Putin Showdown Is a Sideshow. It's All About Netflix Earnings

Trump-Putin Showdown Is a Sideshow. It's All About Netflix Earnings