Apple Inc. share AAPL,
have risen 3.2% in trading on Tuesday morning after Nikkei Asia reported that the company intends to produce between 95 and 96 million iPhones during the first half of 2021, an increase of almost 30 % with respect to the previous year. The company’s smartphone production targets cover new iPhone 12 models, as well as older devices like the iPhone 11 and iPhone SE. Nikkei Asia noted that the supply shortage that would affect the entire industry could affect Apple’s ability to meet its production targets. Overall, the company’s plans shared with suppliers suggest a production target of up to 230 million smartphones by 2021, which would be 20% higher than the 2020 totals, Nikkei Asia reported, citing several unnamed sources. Apple did not immediately respond to a request for MarketWatch comment. Wedbush analyst Daniel Ives wrote that the report was “another bullish sign” of demand for iPhone 12 devices that Apple launched this fall. “With more ordering activity over the past few weeks for the iPhone 12, our initial readings are very bullish and give us increased confidence in our supercycle thesis on the iPhone 12,” he wrote. Shares of Apple have risen 71% so far this year, while the DIA Jones Industrial Average DJIA,
has increased by 4.9%.