Foxconn plans to inject $1.5B into Apple (AAPL)’s Indian operations, according to the company’s filing with the London Stock Exchange. Apple wants to diversify its iPhone manufacturing footprint beyond China due to tariff concerns. The move will help it move more operations into India, with Foxconn’s Singapore-based subsidiary acquiring 12.77 billion shares in Yuzhan Technology India.

Apple has been increasingly bolstering its production capabilities in India. The company established substantial exports of around 600 tons of iPhones valued at $2B to the US in March from India. With tariff concerns between China and the US not fully resolved yet, companies that rely heavily on Chinese exports are searching for alternatives. India has become a key destination for manufacturing due to its stable political environment, vast market potential, flexible workforce, and increasing income levels.

Recently, Foxconn received approval from the Indian government to establish a semiconductor plant in collaboration with HCL Group. This venture involves an investment of INR 37.06bn ($433m) with an aim to commence operations by 2027 in Uttar Pradesh state. The facility is expected to produce up to 20,000 wafers and 36 million display driver chips each month. Furthermore, Apple reportedly plans to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026. The move would be one that could save Apple from having to bump up prices, which could drive away investors and send AAPL stock down.

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The latest Apple stock price prediction from Wedbush’s Dan Ives suggests that AAPL could potentially reach around $210 within a year. The latest investment from Foxconn could attract more investors, raising AAPL shares even further. At press time, AAPL is changing hands at $202, down 4% in the past week and 19% year-to-date.

Analysts at CNN reacted positively to the potential Apple investment for India operations. For AAPL stock, which is trading in the middle of its 200-day MA, price forecasts are up. Over the next 12 months, CNN has a median forecast for AAPL to hit $235.65, a 16% ROI from current prices. Alternatively, if all goes well for Apple stock, the shares could surge even further, as high as $308, according to CNN.