On Tuesday at Wall Street, after news from the ‘Nikkei’ that the Apple Inc (AAPL) expects to manufacture up to 96 million iPhones in the first half of 2021, Apple stood out by a 5 percent leap, which would be a jump of almost 30 percent compared to the same duration of 2019. In spite of the Covid crisis, 5G models introduced in November would have boosted demand.
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On Tuesday, AAPL’s share surged by 5.01 percent to $127.88, bringing the capitalization of Cupertino, California-based tech giant to more than $2,100 billion. The current rise is a proof of company’s not being incompatible with weight and agility. The stock of the iPhone maker is now approaching its all-time peak, above $134, set in early September.
The rise on the day was related to news in the Japanese daily ‘Nikkei’ that in the first half of 2021, the company expects to manufacture up to 96 million iPhones, an increase of nearly 30 percent year-on-year. Thus the Apple is going to get the benefit from rising demand for its recently launched 5G models. The company will urge its suppliers to to make 95 to 96 million iPhones, which will not only include iPhone 12 but also earlier models of iPhone 11 as well as iPhone SE. However, it will be difficult for the tech giant to live on to its ambitions of such large scale manufacturing in the face of slower industrial supply of key components because of the health crisis around the world.
An annual target for the fiscal year was extrapolated by the company to a near-record of 230 million units in 2021 by the ‘Nikkei’ sources, which would mark a 20 percent improvement over 2019. At this stage of the year the Nikkei forecasts unit deliveries at around 116 million iPhones, down 1 percent which would mark two consecutive yearly declining deliveries.
Apple is finally preparing ambitious development plans, including MacBook Pros and iMac Pros for 2021, for high-end computers.
Uber Technologies Inc. (UBER) was down -0.89 percent to $51.00. The ride sharing firm was fined $59 million for failing to include the necessary details about sexual abuse and harassment allegations to the California Public Utilities Commission (CPUC). If it does not pay the fine within 30 days, Reuters adds, the tech giant will be subject to cancellation of license.
