Apple shares slip as China factory unrest could slump iPhone supply by 30%
Chinese article by Lau
English Editor WM Zhang
11-29 14:50

By Kate Yuan

Shares of Apple fell on November 28 as growing worker unrest at the world's biggest iPhone factory in central China’s Zhengzhou City fanned worries of a deeper hit to the already constrained production of higher-end iPhone 14 models, Reuters reported.

The iPhone shipments may fall further in November. Source told Reuters earlier that iPhone output at Zhengzhou could slump by as much as 30% in November caused by the pandemic. This forecast has now been revised up to "at least a 30% drop.”

There could be a shortfall of 6 million iPhone Pro units this year due to production-related problems, according to a Bloomberg report.

"The ongoing challenges around delays in returning to a normal level of production at the Zhengzhou facility could limit the pace with which supply-demand equilibrium can be reached in the coming months," J.P. Morgan analysts said.

US customers wait for about 33 days for their iPhone 14 Pro and Pro Max models to be delivered home, and the same models are not available for in-store pickup, the brokerage said.

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