T-Mobile Chief Executive Mike Sievert says it’s “nonsense” that the iPhone 16 line’s preorder sales are underwhelming so far.

T-Mobile is also aiming for $10 billion more in adjusted operating profits through 2027 compared to 2023, with a projected range of $38 billion to $39 billion. Wall Street was modeling for $37.8 billion in 2027 adjusted operating profits ahead of the event. The company promised $50 billion in dividends and stock buybacks through 2027, as well.

T-Mobile CEO Mike Sievert says the new iPhone 16 is selling ahead of the device hitting store shelves Friday. Analysts had predicted that sales would suffer because the much-hyped Apple Intelligence feature won't be available until at least October.

Apple stock rose after the chief executive of wireless carrier T-Mobile US offered positive comments about early demand for iPhone 16 handsets.

A number of analysts have made comments about weak pre-order demand for Apple's (NASDAQ:AAPL) new iPhone 16 line. However, T-Mobile (NASDAQ:TMUS) Chief Executive Officer Mike Sievert made comments at the company's capital markets day that suggest iPhone demand is not quite as bad as feared.