Buy These 2 Stocks to Gain From Apple's Blockbuster iPhone 12
A lot was riding on Apple's (NASDAQ: AAPL) 2020 iPhone lineup, as sales of the company's smartphones had been stagnating in recent years. But the Cupertino-based company can now breathe easy as the initial sales response to its iPhone 12 models has turned out to be terrific.
The arrival of 5G wireless technology, the impressive pricing of the iPhone 12, and a huge installed base of users in an upgrade window have set the sales register ringing for Apple. Not surprisingly, the iPhone 12 became the world's best-selling 5G phone in October, as per Counterpoint Research. It was followed by the iPhone 12 Pro, with both devices accounting for nearly a quarter of global 5G smartphone sales during the month.
But what's really impressive is that Apple's latest devices managed to reach the top of the charts despite being on sale for just a couple of weeks in October. The solid demand for the iPhone 12 is expected to continue in 2021 as well, as more users upgrade to 5G. That's probably the reason why Apple is reportedly going to boost iPhone 12 production in 2021 to the tune of 20% to 30%, as per supply chain sources cited by media outlet Nikkei Asia. For the full year, Apple could end up making 230 million units, which would be its best performance in six years.
Source Fool.com
