Shares of Cupertino, Calif.-based Apple Inc. (AAPL) continue their post-earnings rally this week as investors applaud better-than-expected third-quarter earnings driven by a revived demand for Macs and iPads, along with promising indicators for the much-anticipated iPhone 8 release. (See also: Apple Surprises the Street with Growth Outside iPhone, Shares Surge to New Highs.)

As shares of the global tech giant reach new all-time highs, a recent report indicates that widespread rumors of the iPhone 8’s delay could be “groundless.” According to KGI Securities analyst Ming Chi Kuo, whom AppleInsider says has “a strong track record in predicting Apple’s future product plans,” the heavily anticipated smartphone should enter mass production in mid-September. In a research note, Kuo wrote that he expects the new smartphone to launch alongside the iPhone 7s and the iPhone 7s Plus and should be available in three colors: black, gold and silver.

New Phones Will Be in Short Supply

The analyst often ends up offering the most substantial information about future Apple products, and also issues research on other consumer electronics companies including rival Samsung Electronics. He suggests that the iPhone 8 will be in short supply at launch, and that only 2 million to 4 million are expected to be built this quarter. This year, Kuo estimates that between 45 million and 50 million iPhone 8s will be assembled. As for the iPhone 7s and iPhone 7s Plus, the analyst estimates a respective 36.5 million and 19 million units will be assembled this year.

The news comes as analyst at RBC Capital suggest that Apple is positioned to be the first company to reach and sustain a $1 trillion market capitalization. (See also: Apple Removes VPN Apps in China as Government Cracks Down on Censorship.)

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