Tech giant, Apple (NASDAQ: AAPL) is looking at making another big push into India after launching its first retail store in the country earlier this year. According to a report from Moneycontrol, Apple could be thinking of launching its Apple-branded credit card in India, after the company’s CEO, Tim Cook met with HDFC Bank CEO and MD Sashidhar Jagdishan, earlier this year. The report also stated that the company has been in discussions with India’s Central Bank, the Reserve Bank of India about the card.
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AAPL is looking at bringing Apple Pay to India, too, and has held talks with the National Payments Corporation of India.
The company is bullish on India as in FY23, Apple’s revenue in India was around $6 billion, a 50% jump year-over-year. AAPL is also looking at the country as a key manufacturing hub for its iPhones and iPads.
Analysts are bullish about AAPL stock with a Strong Buy consensus rating based on 22 Buys and seven Holds.
