Apple's (AAPL) India Expansion Hits a Roadblock After Foxconn Pulls 300 Workers
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Still, even with the recent disruption, Foxconn is expanding its operations in India. Indeed, it opened a new unit in the ESR Industrial Park in Tamil Nadu and invested $2.56 billion in its Devanahalli plant in May. It is worth noting that the plant is expected to make 100,000 iPhones by December and will include dorms for 30,000 workers, most of whom are women. Interestingly, in May 2025, Foxconn shipped nearly $1 billion worth of iPhones from India to the U.S., the second-highest monthly shipment ever, following a record $1.3 billion in March.
However, Apple's growing presence in India may face political roadblocks. On May 23, U.S. President Trump threatened a 25% tariff on iPhones sold in the U.S. if they're not made domestically. Nevertheless, India now produces around 20% of the world's iPhones, and Apple had hoped to make most U.S.-bound iPhones there by late 2026. But with a shortage of skilled workers, that goal may now be delayed.
Is Apple a Buy or Sell Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 15 Buys, 10 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $224.22 per share implies 6.4% upside potential.
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