Apple stock price upbeat at 157.28 as of pre-market trading at 09:21 AM EDT.
By 2025, J.P.Morgan analysts predicted that Apple (NASDAQ:AAPL) would move a quarter of its iPhone production to India. Media outlet Reuters reported that as a result of rigorous COVID-19 lockdowns and escalating geopolitical tensions in China, the tech giant is expected to shift 5% of iPhone 14 production from China to India starting in late 2022.
Additionally, according to J.P. Morgan, by 2025, 5% of all Apple (AAPL) products, such as the Mac, iPad, Apple Watch, and AirPods, will be made outside of China. Gokul Hariharan and other analysts stated, “The move to India is mostly the result of Taiwanese suppliers like Hon Hai and Pegatron. We also anticipate that Apple will eventually evaluate domestic Indian manufacturers.”
A Bloomberg report from earlier this month said that the Indian conglomerate Tata Group and Wistron were in negotiations to establish a joint venture to build iPhones in the nation. Since it started assembling iPhones there in 2017 through Wistron and later with Foxconn, Apple (AAPL) has made a significant bet on India. Shares of AAPL are slightly down pre-market but up early.
Apple Stock Repurchased for $91.34 Billion.
Despite the fact that global stock repurchases decreased by roughly 22% from the prior quarter, Apple (AAPL) and Google parent Alphabet (GOOGL) led all U.S. businesses in stock buybacks during the second quarter, according to S&P Dow Jones Indices. In the second quarter, Apple bought back $24.56 billion worth of its own stock, a decrease of nearly 4% from the same period in 2017. In the last 12 months, the iPhone manufacturer has purchased $91.34 billion worth of Apple stock.
In Q2, Alphabet repurchased $15.19 billion worth of Google shares, an increase of nearly 19% from the same period in 2017. Over the past year, the dominant internet search company has purchased $54.58 billion in Google stock.
Featured Image – Megapixl © Michalrojek