Why Investors Are Happy With Apple Stock Today
Shares of Apple (NASDAQ: AAPL) stock jumped 2.4% as of noon ET on Wednesday after investment bank UBS confirmed findings first reported in Nikkei Asia last week -- reports that Apple's "iPhone first" strategy is working.
As Nikkei reported, in the face of production snarls in China caused in part by "COVID-related lockdowns in Vietnam and Malaysia and power restrictions in China," Apple has been prioritizing production and shipment of the iPhone 13 to ensure that shoppers can buy all the iPhones they want in time for the holidays -- even if that means there might be delays in shipping out iPads.
Today, UBS confirmed this strategy is working, and that it's seeing "modest improvement in availability on a week-to-week basis" for both iPhone 13 Pro and Max models. "We believe the decline in wait times coincides with improvement in the supply chain," wrote UBS in a note covered by StreetInsider.com. And "several suppliers [are] noting December production should be better than November which was better than October."
Source Fool.com
