Apple has increased its supply commitments by more than a third to $11 billion – a record – during the March quarter, according to an SEC filing. The jump from $7.9 billion usually spent in that three-month period indicates the Cupertino, Calif. company is pulling out all stops to ensure it meets demand for the iPad 2 and expected iPhone 5.
“We believe the increase is attributable to procurement ahead of a tight supply environment and expected shipment increases in June (iPad) and September (iPad + iPhone),” Morgan Stanley analyst Katy Huberty told investors.