AAPL YTD mountain Apple (AAPL) performance year-to-date Foxconn's China-based factories have been crucial for the production of iPhones and other Apple products likes MacBooks.
Those issues, along with heightened U.S.-China tensions, prompted Apple — and suppliers like Foxconn — to expand into India.
CEO Tim Cook has previously told CNBC that India presents a "huge opportunity" for Apple in terms of iPhone sales and manufacturing.
And over the summer, Apple announced it had started production on the next-generation iPhone 15 in India.
While China's economy remains under pressure post-pandemic, the Indian market offers significant growth opportunities for a company like Apple.
Persons:
Apple, Apple —, Tim Cook, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Punit Paranjpe
Organizations:
Foxconn Technology, Apple, CNBC, Afp, Getty
Locations:
India, China, Mumbai, Punit