Apple’s (NASDAQ: AAPL) sales in India soared by 50% year-over-year in the year through March touching almost $6 billion, according to a Bloomberg News report. This is even as the tech giant is focusing on more of a retail push in India by opening stores in Mumbai and New Delhi this year.
The company has ramped up the production of its iPhones in India and iPhones manufactured in India now comprise around 7% of its total iPhone production, up from 1% in 2021. Bloomberg reported that in the last fiscal year, AAPL has assembled more than $7 billion worth of iPhones in India.
Analysts remain bullish about AAPL stock with a Strong Buy consensus rating based on 23 Buys, five Holds, and one Sell.
