Shares of Apple Inc. jumped significantly during Thursday’s trading session in the US market following reports that the iPhone maker was gearing up for a lucrative new product launch. Investor sentiment was further bolstered by news of the tech giant’s plans to expand its production network and optimize component costs to protect its profit margins.

Apple’s stock was trading approximately 4.84% higher from its previous close following reports from Nikkei Asia that the company plans to launch at least five new iPhone models in the first half of 2027.

The new lineup is expected to include a premium foldable flagship, the “iPhone Ultra,” with Apple reportedly boosting its production target to 10 million units from an initial goal of 8 million. According to market intelligence firm IDC, the price tag for the premium novelty could sit around $2,500, reaching as high as $3,000 for versions with increased storage.

Apple overcame recent pressure from soaring input costs, which had previously forced the company to raise prices for Macs and iPads. According to Bloomberg, the manufacturer is now attempting to source more affordable memory chips from Chinese suppliers ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC), a move aimed at diversifying supplies, easing component shortages, and bolstering overall business profitability.