Apple Inc. (NASDAQ: AAPL), an electronics company, has been chastised for being unduly reliant on Chinese production capacity. The corporation seeks to address this issue and diversify its output.
Last week, Apple issued a report revealing ambitions to expand production outside of China. One of the reasons Apple has hastened this change is to avoid plant shutdown during yet another lockdown due to the country’s zero-tolerance approach to COVID-19.
The brand already has manufacturing facilities in Vietnam and India, which could potentially account for a major portion of the company’s smartphone and other gadget production quotas. Apple Inc. (AAPL) will have more flexibility with different production facilities.
Other news had a beneficial impact on Apple Inc. (AAPL) pricing on Monday, May 23. According to certain sources, Apple intends to unveil a new version of its HomePod smart speaker before the end of 2022. It’s worth mentioning that while AAPL has struggled to compete with other smart speaker makers, the company still has the potential to greatly grow its infrastructure thanks to its multibillion-dollar iPhone user base.
According to a poll performed by UBS analysts, demand for the iPhone is increasing in China, with purchase intentions up 6% year over year. According to the UBS Evidence Lab, this is the highest level in six years. At the same time, the percentage of Americans who want to buy an iPhone has dropped by around 4%.
However, Apple Inc. (AAPL) has not yet experienced similar shifts: the company’s financial report for the previous quarter revealed that robust demand for smartphones, laptops, and other gadgets remained strong.
In the last year, the company’s stock price has increased by 12.60 percent. In the previous five trades, the stock price has lost -1.67 percent, and in the last 30 trades, it has plummeted -11.55 percent. However, the stock price fell -10.86 percent in the last six months, and -12.91 percent was deducted from its value in the preceding three months.