Active Stocks: Apple Inc [NASDAQ: AAPL] is making headlines across the financial markets today. This follows a report by the Nikkei Asian Review that the company has asked for a 10% increase in production. This means that its prepared production for the iPhone 11 will be higher, when compared to a year ago. This news also saw the stocks of Apple major suppliers such as Murata Manufacturing Co. and AAC Technologies Holdings Inc., climb in the Asian stock markets. Apple CEO, Tim Cook has also hinted at strong sales. Speaking to the French daily Les Echos, he said that he foresaw a new growth cycle.
The iPhone 11 has a number of tech improvements that could play a role in driving up demand. Some of them include wider camera lenses for better photos, longer battery life, and overall, a more durable smartphone. Lower prices too could play a role in driving up demand, especially in the current global economic climate.
From the charts, AAPL is currently trading in a bullish channel. The stock has been gaining since June and has formed higher lows in August and in late September. Yesterday’s reversal in AAPL may have marked a continuation of this uptrend. News of strong demand could help support this momentum. Yesterday it stood at 30.35 million shares. Some momentum is already beginning to show in pre-market trading.
About Apple Inc
Apple Inc (AAPL) is a designer, manufacturer and marketer of mobile communication and media devices. The company’s core products are the iPhone Mac, and several operating systems including IOS, macOS, tvOS and watchOS. The company also sells a host of other services including streaming services. The company was started in 1977 and has its headquarters in Cupertino, California.