Apple Inc’s stock wobbled in extended trade on Thursday, down 1 percent and then trading up 3 percent, as investors wrestled with uncertainty about demand for the iPhone X following the company’s quarterly report.


Apple’s main product is of paramount importance to the company’s stock return, and hence investors. Since the launch of the first iPhone in 2007, Apple’s stock has had a return of more than 1,200 percent, far outpacing the S&P 500’s return of 101 percent.


In the nearly five months since September’s launch event for the iPhone X, priced at an unprecedented $999, Apple’s stock has risen about 4 percent, putting it in the middle of the pack for stock reactions after Apple iPhone launches.


The best first five months after previous launches came after the original iPhone was announced in January 2007, when the stock gained nearly 46 percent. The worst came after the iPhone 3G in June 2008, after which the stock fell more than 47 percent.


Looking out a year after the previous 10 iPhone launch events, Apple shares have turned in a median price gain of 33.8 percent and an average increase of 32.5 percent.


Apple’s best one-year showing following an iPhone debut again followed the original device’s announcement in January 2007, when it gained around 100 percent. Its poorest came in the year after the iPhone 5 in 2012, when it fell 29.2 percent in the ensuing 12 months.


Apple lost a quarter of its value in the 12 months following June 2015 as its double-digit revenue growth shrank and was replaced by double-digit declines.


But the stock since has since rebounded more than 70 percent to record highs, fuelled by optimism about Apple’s iPhone X and expectations of a “supercycle” of customers replacing older phones.