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.
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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.
