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Mizuho Securities and Nikkei xTECH issue iPhone production forecasts through 2027
Wednesday, January 28, 2026 at 09:16 AM
A report from Mizuho Securities and Nikkei xTECH provides production forecasts for iPhones through 2027, which indicates long-term capacity requirements for the semiconductor supply chain.
Context
Mizuho Securities and Nikkei xTECH have released an updated production roadmap for Apple, forecasting iPhone output through 2027. The analysis suggests a steady growth trajectory driven by the integration of Apple Intelligence, which is expected to trigger a significant hardware replacement cycle. Total production for 2024 is estimated at 234 million units, remaining stable into 2025 before climbing toward a projected 244 million units by 2027.
This long-term outlook highlights critical supply chain shifts, specifically the transition to 2nm process technology and advanced WMCM (Wafer-Level Multi-Chip Module) packaging. To support high-performance AI features, Apple is expected to double its specialized packaging capacity from 60,000 wafers per month in 2026 to over 120,000 by 2027. While short-term bottlenecks in high-quality PCB materials remain a risk, the forecast underscores a robust "AI-driven super cycle" that secures Apple's dominance in the premium smartphone market for the next three years.
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