Apple Stocks Reaches for a New High

Apple stocks have been on the upward trajectory over the past month and it is presently roaring to a new high. As at the end of trading for the week to 21st July, it was breathing above the $150 mark with hints that it could be at $152 or more by the end of July.

The famed smartphone maker has found fresh oxygen from the Fortune 500 top position it snapped up this July. Apple was asserted as the most profitable company by far on the elite list of 500 biggest and most impactful companies in America and on earth. Its latest results show a profitability of $45.7 billion.

An Eye For India

The company has been eyeing the Indian market as part of its global strategy to deepen its profitability and cling to its top ranked position as the smartphone maker of choice.

Earlier reports pointed out that the iPhone manufacturer was eyeing the Indian market as a base for phone production.

The indications on a global scale and from the Indian market were heart-warming enough for Apple.  Its iPhone 5S  hit the top position in seven of Indian urban states while other Apple products were on the top five list in semi-urban states of this huge nation.

Reducing Production Cost

Apple reached an agreement with the Taiwanese tech maker, Wistron Corp to start off rolling out iPhone 6 models from the Indian plant. The mid-market iPhone SE smartphones was strategically added as a means to win new buyers across India.

The announcement was made in the end of May 2017 that the popular iPhone SE smartphone will be rolled out from its Bengaluru facility. The impact of the absence of custom duties and lower taxes is expected to help Apple expand its less than 5 percent market share of the Indian terrain. The smartphone market in India is estimated at Rs 90,000 crore or $13,9billion.

Impact on the Indian Market

Apple had an earlier pact with Reliance Jio which sought to provide every buyer of the of iPhone 7 range with a year-long free 4G services. This was also strategic in order to woo new patrons for the brand.

While consumers in India will enjoy lower pricing for the local production of iPhones, it remains to be seen if Apple will have the same inroad into China.

The battle for the high-end market in India has been a straight fight between Samsung and Apple. Premium smartphones cost from Rs 30,000 and above across India.