Apple is asking suppliers to make 70 to 80 million units of its new larger screen iPhone, a lot more initially than its current model. Fred Katayama reports.
Apple's thinking big and betting big. It's asking suppliers to churn out 70 to 80 million units of what's commonly called the iPhone 6, phones sporting much larger screens than the current model, according to the Wall Street Journal. That's a lot more than the 50 to 60 million initial order for current iPhone 5S and 5C. And because the new displays will feature thinner screen technology that could have a higher failure rate, the Journal says Apple has asked suppliers to be ready to make up to 120 million iPhones. Apple needs to put out larger phones soon because archrival Samsung has been eating into its market share with its huge displays. Wall Street wants to hear more about its fall product lineup when Apple reports its earnings after the market close today. Influential Piper Jaffray senior analyst Gene Munster expects a September 19 release date for the iPhone 6 and an October 31 debut for the iWatch. He said, "Even if September guidance is below expectations, we believe investors would ultimately look past it and refocus on new products." Apple's stock, up 17 percent this year, added to those gains at the start of trade. But Goldman Sachs reports Apple remains one of the most underweighted stocks among large cap fund managers. They feel it's no longer a hot growth company since it hasn't released a new product since the iPad four years ago.