Apple iPhone 14 Pro likely still in short supply as Trendforce cuts estimates - Seeking Alpha

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Apple (NASDAQ:AAPL) warned successful November that disruptions successful China related to COVID-19 would mean little iPhone 14 Pro shipments and present probe steadfast Trendforce has cut its shipment forecast again.

The probe steadfast believes that 78.1M iPhone 14 units were shipped successful 2022, down from a erstwhile estimate, citing continued labour shortages astatine Foxconn's main accumulation installation successful Zhengzhou, China.

TrendForce besides chopped its estimation for iPhone shipments successful the first-quarter of 2023 to 47M, down from a erstwhile estimation of 52M, arsenic the aforementioned labour shortages whitethorn not beryllium resolved by then.

"TrendForce further points retired that China’s proviso concatenation has started to acquisition a labour shortage this December," the probe steadfast said successful a statement, adding that China made a "significant change" to its COVID-19 argumentation up of the Lunar New Year holiday.

China has continued to region overmuch of its draconian zero-COVID policies successful caller days, astir precocious easing up connected restrictions for planetary travelers and reclassifying COVID-19 to a Category B virus.

Earlier this month, Foxconn said that the "closed-loop" strategy that had been successful spot astatine its works successful Zhengzhou, China, had been lifted.

Zhengzhou is wide believed to beryllium Foxconn's largest iPhone assembly works and the manufacturing elephantine has offered bonuses of 1,000 yuan, oregon $141.11, to employees who notation radical who get hired to assistance boost employment numbers astatine the plant.

Foxconn, besides known arsenic Hon Hai Precision (OTCPK:HNHPF), precocious reported a crisp driblet successful its November gross stemming from the COVID-19 lockdowns and idiosyncratic unrest astatine the Zhengzhou plant.

Last week, concern steadfast Needham chopped its gross and net estimates for Apple (AAPL) for 2023, citing "weak iPhone demand" successful China.