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Apple Gains On Report It Is Seeking 20% Jump In iPhone Production

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  • AAPL

By Dhirendra Tripathi

Investing.com – Apple (NASDAQ:AAPL) stock was up 1.5% in Wednesday’s premarket trading after Bloomberg reported that the company has asked suppliers for 90 million iPhones this year, a 20% jump from the shipments in 2020.  

The final offtake could be a few million units short, the report said.

According to the report, Apple’s initial run of a device from the time of its launch through the end of the year has usually hovered around 75 million units.

Placement of higher orders indicates the maker of Macs and iPads is expecting the demand for iPhones to roar, given it will be the tech giant’s first iPhone launch since the rollout of COVID-19 vaccines. It will also be second set of iPhones with 5G, a critical feature that many consumers are now seeking in phones and as more carriers launch the service world over.   

The report said the company plans updates to all of the current models. The phones are all expected to be announced in September.

In a separate report, Bloomberg said Apple is working on a service to let users pay for purchases in instalments. The world’s most valued company will use Goldman Sachs (NYSE:GS), its partner since 2019 for the Apple Card credit card, as the lender for the loans, Bloomberg said.  

 

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