By Christiana Sciaudone
Investing.com — Apple (NASDAQ:)’s bumping production by 30% in the first half of 2021 thanks to an increase in demand for 5G handsets, Asia reported. Shares rose 3%.
The news sent iPhone suppliers higher: LG Display (NYSE:) rose 7%, Skyworks Solutions (NASDAQ:) jumped 4.6%, Taiwan Semiconductor was up 2.4% and Qualcomm (NASDAQ:) increased 1.4%.
Apple will make as many as 96 million iPhones, assuming shortages of key components don’t get in the way, Nikkei Asia said, citing people familiar.
Apple, currently valued at $2.14 trillion, may build 230 million iPhones next year, which would represent a 20% increase over 2019. The company shipped a record 231.5 million handsets in 2015, and saw sales slip in 2018 and 2019.
“The iPhone 12 Pro, and iPhone 12 Pro Max are especially stronger than we estimated, while the demand for iPhone 12 is in line with the forecast, but iPhone 12 mini is a bit sluggish,” an unnamed executive from a supplier told Nikkei Asia.
Shares of Apple are down about 6% from a record hit earlier this year.