Apple (NASDAQ:AAPL) shares moved modestly higher in early Monday trading after Bloomberg News reported that the Cupertino-based behemoth asked its suppliers to manufacture roughly 85 million units of the iPhone 15 this year.
This number is roughly in line with the 2022 shipments. Despite a lower consumer demand, which prompted BofA analysts to downgrade Apple shares late last year, Apple is not lowering its shipments forecast.
Another report in DigiTimes said that Apple ordered between 83M and 85M units of iPhone 15.
The tech titan is also mulling over whether to increase the price of its high-end iPhone Pro model.
“Apple is riding this 'premiumization' wave, reaching record shares in multiple new markets which are typically not considered its core markets,” Counterpoint analysts wrote in the report.
“A prime example is India, where it grew 50% YoY in Q2 2023.”
At least two Wall Street analysts bumped their price targets on Apple stock since Friday.
Shares of the company are up almost 48% year-to-date.