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Apple Shares Gain on Report of iPhone Manufacturing Increase
TheStreet
12/15/2020
© TheStreet
Apple Shares Gain on Report of iPhone Manufacturing Increase
Apple Inc. shares edged higher Tuesday following a report that the tech giant is planning a significant increase in its iPhone manufacturing to meet an anticipated surge in 2021 demand.
Japan s Nikkei business newspaper said Apple has instructed suppliers to produce around 230 million iPhone handsets next year, a 30% increase from the pre-pandemic pace of 2019, with around 96 million slated for the first half of the year.
Foxconn Technology Group , the world s biggest electronics manufacturer and Apple s most important supplier, said last month that 2021 sales will grow by around 10% amid what it sees as strong demand for consumer electronics in general and the iPhone 12 more specifically. Apple typically accounts for around half of Taiwan-based Foxconn s annual revenue. ....

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