Apple shares find traction after Taiwan report notes increased iPhone7 production
Shares of Apple are up some 0.6% in premarket action, off a gain of more than 1% overnight, after a report in Taiwan's Economic Daily said the smartphone giant has asked its mostly Asia-based suppliers to make more iPhone 7s. The Economic Daily report said Apple asked suppliers to produce between 72 million and 78 million iPhone 7s by the end of the year, above Wall Street analysts' current expectations for 65 million. The report was picked up by CNBC. AAPL shares are down about 8% so far this year and down about 29% from their February 2015 high of $133.
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