Apple plans to increase iPhone production by 30% for first half of 2021: report


Apple Inc. shares AAPL,
+ 2.96%
Trading rose 3.2% on Tuesday morning after Nikkei Asia reported that the company intends to produce 95 million to 96 million iPhones during the first half of 2021, marking an increase of nearly 30% from a year earlier Will do. The company’s smartphone production targets cover the new iPhone 12 model as well as older devices such as the iPhone 11 and iPhone SE. Nikkei Asia said that the lack of supplies affecting the entire industry could affect Apple’s ability to meet its production targets. Overall, the company’s plans shared with suppliers suggest a production target of up to 230 million during 2021, a 20% jump over the sum of 2020, Nikkei Asia reported, citing several unnamed sources. Apple did not immediately respond to a MarketWatch request for comment. Wesbush analyst Daniel Ives wrote that the report was “another sharp signal” of demand for iPhone 12 devices that Apple released this fall. “For the iPhone 12 with more ordering activity, our initial reeds have been much faster for the past few weeks and give us incremental confidence in our Super Cycle thesis on the iPhone 12,” he wrote. Apple shares as Dow Jones Industrial Average DJIA have increased 71% so far this year,
+ 0.49%
An increase of 4.9%.

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