While Apple (NASDAQ: AAPL) had restricted its manufacturing output from India to iPhone so far, it is now building out its production in India to AirPods.
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Bloomberg reported on Monday that the Indian unit of Jabil (NYSE: JBL) has started the shipping of AirPods enclosures, or plastic bodies, to countries including China and Vietnam, where the assembly of the AirPods takes place.
AAPL is increasingly looking at moving its production out of China as the trade restrictions that the U.S. has imposed on China and COVID-related manufacturing disruptions have made manufacturing in that country riskier.
Analysts are bullish about AAPL stock with a Strong Buy consensus rating based on 22 Buys and four Holds.