Apple doubling down on India market, says Wedbush

Wedbush notes that this week, Apple will cut the red ribbon on the first India retail stores this week in Mumbai and New Delhi. For years Apple has tangentially gone after the India market with some success as India revenue is only roughly $6 billion today with minimal presence in the country. That dynamic will be changing as Apple is now aggressively looking at India from both a production and retail expansion over the coming years that the firm believes will be a strategic poker move for Cupertino that could ramp annual revenue to $20 billion by 2025 in India. Wedbush maintains an Outperform rating on the shares with a price target of $205.