Why Apple Stock Jumped on Monday
Shares of Apple (NASDAQ: AAPL) climbed higher on Monday, adding as much as 4.1%. As of 12:57 p.m. ET, the stock was up 3.1%.
The catalysts that sent shares higher were several reports that were good news for Apple shareholders.
A report over the weekend suggested that the iPhone maker is looking to increase its production outside China, according to The Wall Street Journal. Detractors have long derided Apple's heavy reliance on China to assemble its popular electronic devices, which many believe is the company's Achilles' heel. The report cited China's "Zero-COVID" policy among other factors. Apple already has manufacturing operations in Vietnam and India, which could eventually get a greater share of the company's device quotas. Having alternative facilities would certainly work in Apple's favor, giving the company greater flexibility.
Source Fool.com
