Tech behemoth Apple’s (NASDAQ:AAPL) supplier Pegatron is looking to open a second production facility in India, according to Reuters.
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The development comes after Pegatron opened its first $150 million facility in India about six months ago and highlights the continued shift of production away from China.
Separately, Apple is also making a splash in the world of entertainment and plans to invest $1 billion a year in movies. The company is also looking at big-ticket streaming in sports and according to reports is mulling a bid for streaming the English Premier League.
Overall, the Street has a $170.18 consensus price target on AAPL implying a 7% potential upside in the stock. That’s after a nearly 27% climb made by the stock so far this year.
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