Apple Stock Is Rallying On A Report iPhone Demand Is Stronger Than Expected
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Apple Stock Is Rallying On A Report iPhone Demand Is Stronger Than Expected

By ERIC J. SAVITZ
Wed, Dec 16, 2020Grey Clock < 1 min

Apple shares were higher on Tuesday following a report that the company is increasing production of its 5G iPhones amid surging demand.

Nikkei Asia reported that Apple (ticker: AAPL) plans to produce 95 million to 96 million iPhones in the first half of 2021f, a nearly 30% increase from a year earlier. The target includes the new iPhone 12 line as well as older iPhone 11 and iPhone SE models.

According to the report, Apple plans to build up to 230 million iPhones in total in 2021. The story said that, according to an executive at one key Apple supplier, demand is stronger than expected in particular for iPhone 12 Pro and iPhone 12 Pro Max. Demand for the entry-level iPhone 12 Mini, by contrast, is described as “a bit sluggish.”

The story also said Apple plans “an aggressive production schedule for its high-end computers,” including the MacBook Pro and the iMac Pro, and that Apple is planning a new Apple TV set-top box for watching streaming services.

Apple didn’t comment on any element of the Nikkei Asia report.

Wedbush analyst Dan Ives said 96 million iPhones in the first half of calendar 2021 would be “well ahead of Street expectations.” He said Street consensus for the fiscal year ending in September 2021 is for Apple to produce 215 million phones—although there is a bull case that would have the total north of 240 million.

Ives continues to see “an unprecedented upgrade cycle for Apple with a major holiday season on the horizon over the coming weeks.” He maintained his Outperform rating and US$160 target on Apple shares.

Apple shares closed up 5.01% to $127.88 Tuesday as the Dow Jones Industrial Average rose 1.1%.

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In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au