Apple (NASDAQ:AAPL) Wants to Boost its Investment in Vietnam
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Apple (NASDAQ:AAPL) Wants to Boost its Investment in Vietnam

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Apple intends to boost its investment in one of its key manufacturing hubs, Vietnam.

During a two-day strategic visit to Vietnam, Apple (NASDAQ:AAPL) CEO Tim Cook expressed his intention to boost the tech giant’s investment in the country, leveraging Vietnam’s status as a crucial manufacturing hub for AAPL.

Cook conveyed this intention during a meeting with Vietnamese Prime Minister Pham Minh Chinh. Following Cook’s statement, Chinh announced that Vietnam would establish a working group to support Apple’s investment.

So far, AAPL has invested $15.84 billion in Vietnam and has created around 200,000 jobs there. According to a Reuters report, the iPhone maker had 25 suppliers in Vietnam in 2022. Many of AAPL’s suppliers based out of China are also contemplating a move to Vietnam amid the rising geopolitical tensions between the U.S. and China.

Is Apple a Buy, Sell, or Hold?

Analysts remain cautiously optimistic about AAPL stock, with a Moderate Buy consensus rating based on 16 Buys, 10 Holds, and one Sell. Year-to-date, AAPL has declined by more than 9%, and the average AAPL price target of $202.76 implies an upside potential of 17.4% at current levels.


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