Apple slashed the price of its entry level iPhone 11 model to $699, down from the $749 price tag on last year's iPhone XR.
Shares of Apple traded as much as 2.3% higher on Friday morning on a report the company is planning to increase iPhone 11 production. The Nikkei Asian Review reported that Apple told suppliers to increase production by up to 10%, or 8 million units, amid better-than-expected demand for the iPhone 11. According to Wedbush analyst Daniel Ives, the Chinese market could be one of the main drivers of the increased demand. Watch Apple trade live on Markets Insider.
Shares of Apple traded as much as 2.3% higher on Friday morning on a report the company is planning to increase iPhone 11 production. The Nikkei Asian Review reported that Apple told suppliers to increase production by up to 10%, or 8 million units, amid better-than-expected demand for the iPhone 11. According to Wedbush analyst Daniel Ives, the Chinese market could be one of the main drivers of the increased demand. Watch Apple trade live on Markets Insider.
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