Yahoo Finance Live discusses a slight rise in Apple stock as the company opens its first retail store in Mumbai, India.

Video Transcript

DAVE BRIGGS: Next up, Apple. Shares didn't move dramatically, ending the day fractionally higher. The tech giant hit a new milestone, which was opening its first physical store in India, with CEO Tim Cook on-location in Mumbai to celebrate the occasion. Apple is also planning to open a second location Thursday in Delhi. The store openings at a time when the company is looking to diversify its manufacturing away from China.

So this really serves two purposes. There's a lot of market share possibility there. They're are only, what, 4% or 5% in the second biggest smartphone market in the world. But to that point of also outsourcing, getting away from their dependence upon China.

- Right, you're getting away from your dependence upon China. And I think it's interesting to see a lot of Wall Street analysts comparing this moment for India to China about 10 or 15 years ago, right? And so you can extrapolate some numbers out from there.

CFRA saying that Apple's iPhone sales now make up about less than 5% of the smartphone market in India. But if it were to make up what they are in China, then you're talking-- you're going from 7 million smartphones to 252 million smartphones sold., 7 million to 250 million, that's a big difference.

And then also when you talk about production, you're growing from a 7% to 8% production rate-- or that's the percentage of their production that's in India right now. They want-- they could see that being 25% at some point, so half of their production going to India. So obviously a big moment maybe coming down the line. This feels like a seminal moment for what we might see moving forward.

DAVE BRIGGS: We also got some news on that VR headset that will be released at the Worldwide Developers Conference in June, sold a few months later. They're going to incorporate that into everything, including wellness, meditation, Fitness Plus. You're going to be able to read books on the goggles. So $3,000-plus--