Apple shares ascend on report of iPhone 14 Pro production increase

Apple shares moved higher on Monday as an influential analyst indicated that the company has increased production of its iPhone 14 Pro and flagship iPhone 14 Pro Max models.

Chris Ciaccia for Seeking Alpha:

TF International Securities analyst Ming-Chi Kuo tweeted on Monday that Apple has asked Hon Hai, also known as Foxconn, to switch the product lines between the smartphones, a move that could help Apple’s product mix and its average selling price in the fourth quarter.
“Based on the production line conversion rate, it’s equivalent to an increase in the shipment forecast of iPhone 14 Pro models in [the fourth-quarter] by about 10%,” Kuo wrote in a subsequent tweet.
Kuo said that most of the suppliers should receive an increase in requests for iPhone 14 Pro models from Apple (AAPL) in the “next few weeks.”

MacDailyNews Take: Last week, Morgan Stanley wrote in a note to clients that Apple was seeing stronger than expected demand for the iPhone 14 series, citing relative lead times and early data from China.
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