In yet another bullish report regarding Apple’s (NASDAQ:AAPL) iPhone 17, which was made generally available today, the Cupertino-based company is pushing suppliers to increase the daily output of the standard model by more than 30%, according to The Information.
Apple shares had increased 3% by Friday afternoon.
The move comes after Apple received higher-than-expected pre-orders for the phone last week, the report said, citing people familiar with the situation. Apple apparently asked Luxshare Precision and Foxconn (OTCPK:FXCOF), its two primary iPhone assemblers in China, to increase daily output by as much as 40%.
The standard iPhone 17 starts at $799.
Multiple financial firms have noted higher-than-expected demand for the iPhone 17, including J.P. Morgan and Morgan Stanley.