A $250 Billion Opportunity That Could Send Apple Stock Soaring
Sales of 5G smartphones are taking off in India. That growth might explain why Apple (NASDAQ: AAPL) is focusing more on a market that has been a negligible contributor to the company's top line so far.
The tech giant is manufacturing iPhone 14 models in India through its partner Foxconn in the city of Chennai. What's remarkable is that Apple's latest iPhones will now be made in India so soon after their global launch, This is a departure from the company's prior strategy of only making older models in this market.
J.P. Morgan Chase's investment firm estimates that 5% of global iPhone 14 production could take place in India this year. What's more, the country is expected to account for a quarter of Apple's global iPhone production by 2025. Apple's efforts to grow production in the world's second-largest smartphone market could be a big deal, especially since there is growing adoption of 5G smartphones in India.
Source Fool.com
