Apple faces more iPhone supply woes on Foxconn unrest - MarketWatch

“We judge galore Apple Stores present person iPhone 14 Pro shortages based connected model/color/storage of up to 25%-30% beneath mean heading into a emblematic December, which is not a bully motion heading into vacation play for Cupertino,” Ives said.

Shares of Apple fell 2.2% connected Friday arsenic the worst performer among the 30 stocks successful the Dow Jones Industrial Average DJIA, +0.53%, which roseate astir -0.5%.

China’s Zero COVID-19 argumentation continues to interaction Apple’s proviso chain.

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Protests person taken spot astatine Foxconn’s main iPhone accumulation tract successful Zhengzhou, with hold times present up to 40 days for a caller iPhone 14 Pro.

Overall, Wedbush expects Apple to merchantability 8 cardinal iPhones implicit this Black Friday weekend, which would beryllium down sharply from 10 cardinal past year.

All told, Ives is projecting accumulation challenges could interaction astir 5% of iPhone 14 units retired of the proviso concatenation and handing Apple a large shortage successful December.

“If Zhengzhou remains astatine little capableness the adjacent fewer weeks and continues to spot the unrest physique with workers, this would origin wide large iPhone Pro shortages into the all-important Christmas clip play particularly successful the U.S.,” Ives said.

Fresh developments connected the Foxconn idiosyncratic unrest communicative are not peculiarly encouraging, however,

An unnamed root cited by Reuters said the flagship iPhone works successful Zhengzhou faces a further driblet successful November shipments of much than 30%, compared to an earlier estimation of up to 30%.

Best Buy Co. Inc. BBY, -0.50% connected Tuesday projected abbreviated proviso of high-end iPhone astatine stores during the existent buying season.

Apple and Foxconn did not comment, Reuters reported.