Leading analyst Craig Moffett suggests any plans to move U.S. iPhone assembly to India is unrealistic. Moffett, ranked as a top analyst multiple times by Institutional Investor, sent a memo to clients on Friday after the Financial Times reported Apple was aiming to shift production toward India from China by the end of next year.

The manufacturing move aims to address massive US tariffs against China that could spur higher prices on the company's biggest-selling product.

The current iPhone manufacturing capacity in India with headroom for increasing local consumption and exports; investments lined-up by Apple and its partners Foxconn as well as Tata Electronics to add more production capacity;