With a rise of at least 1%, analysts expected shares to be even more bullish with Apple stock's expected price target increases on the morning of July 7, 2020.
Apple Raises iPhone Manufacturing Plans
The tech company increased the number of devices by $1 million to $2 million devices for each month of September and December of 2020.
Loop Capital Markets analysts Shawn Harrison and Ananda Baruah shared that Apple also doubled units from 5 million to 10 million units for March 2021.
With these increases, Loop Capital predicts Apple will send out 45 million iPhones in September, leaving a 7% increase year over year and 70 million iPhones in December, ending the year with a decrease of 4%.
It appears that Apple may want to prepare 39 million iPhones for March 2021 to have unchanged results from March 2020.
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The iPhone 12 has been long-anticipated as the next-gen iPhone, and now, it's here. Offering 5G connectivity, the A14 chip, new camera systems, and more, the iPhone 12 upgrades everything. With a refreshing design of the iPhone frame itself, the iPhone 12 sets up the iPhone product line for the future.
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