According to a report, Apple is planning to produce up to 96 million iPhones in the first half of 2021, a 30% year-over-year increase. The 96 million figure is “well ahead of Street expectations,” wrote Wedbush analyst Daniel Ives, who called the Nikkei report “another bullish sign of iPhone 12 demand”. Apple has already announced a huge share buyback program of $225 billion which can support the strong uptrend during 2021. Apple target price is at $160. Apple closed 5,01% higher at $127,88 yesterday.