- Apple (NASDAQ:AAPL) reportedly starts production on iPhone 6s devices in India with plans to produce another model in the country at a later date.
- Apple previously opened an Indian manufacturing facility to produce the iPhone SE for Indian customers.
- The third model could be the iPhone 6s Plus.
- Apple needs to manufacture the phones in India to get around rising import taxes, which would help keep device prices down in a cost-conscious local market.
- In other Apple news, Barclays (LON:BARC) is out with estimates on short- and long-term Apple performance predictions.
- Analyst Mark Moskowitz says the June quarter will be influenced by iPhone carrier promotions in the US and China, foreign exchange rates, and the new free iCloud storage trial. Barclays expects the US dollar to depreciate 4% Y/Y for the June quarter.
- The analyst raises his EPS estimate 2% for FY18 to $12.25, but the FY19 EPS estimate drops 1% to $12.77.
- Firm keeps Apple at Neutral with a $175 price target.
- Apple shares are up 1.4% to $184.67.
- Now read: Apple: Just A Speed Bump?
Original article