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Apple reportedly set to cash in on Huawei's misery

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Apple has asked its suppliers to build up to 90 million iPhones this year, a steep increase from the first year of the pandemic, according to a Bloomberg report citing anonymous sources.

The news suggests that the iPhone maker expects demand for upgrades to increase substantially as the roll-out of 5G services across the U.S. and further afield gathers pace.

The report said that Apple is also exploiting the problems of Huawei, whose mobile phone business has been hobbled by U.S. restrictions on the supply of vital components to it.

The report lifted Apple stock some 1.4% in premarket trading to a new all-time high. Shares in suppliers such as Taiwan Semiconductor Manufacturing (NYSE:TSM) and Hon Hai Precision Industry  (OTC:HNHPF) – also known as Foxconn – also rose in the Asian session.


14th July 2021, by Geoffrey Smith. Investing.com

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