Apple Stock News
Market Anticipation for iPhone 7 Starting to Grow
Apple, Inc. (AAPL) shares have dropped more than 18% in the last three months as iPhone sales have slowed and both consumer and investor confidence in the company has faltered. Despite recent struggles, the company’s share prices have started to make a comeback with the help of Warren Buffett’s bullish long-term position on the company and new developments with the upcoming iPhone 7.
It’s been reported that the tech giant will be surpassing expected iPhone 7 production by quite a bit. Apple reported ask suppliers to prepared for production of between 72 and 78 million iPhone 7 units, which is much higher than the expectations from Wall Street of 65 million units. Apple’s suppliers have already seen increases in share prices since this announcement.
These elevated numbers are somewhat of a surprise to analysts and investors as iPhone sales have started to slow. Several rumors and leaks concerning the iPhone 7 have disappointed Apple fans who are concerned that the new version won’t have enough changes and updates to convince consumers to upgrade their current phone.
Meanwhile, Applied Materials, Inc. another company in Apple’s supply chain has already started to prepare for the iPhone expected to be released in the fall of 2017. Applied Materials has reported a four-fold increase in orders for new screen-producing equipment. It takes about three quarters for these large machines to be produced, and they will be used for production of new OLED screens in the next iPhone generation. This new screen type will likely allow for thinner screens, longer battery life, and better imaging and contrast.