Apple shares slip as China factory unrest may further hit iPhone shipments - Reuters

Nov 28 (Reuters) - Shares of Apple Inc (AAPL.O) fell astir 2% connected Monday arsenic increasing unrest astatine a cardinal Chinese works fanned worries of a bigger deed to the already constrained accumulation of higher-end iPhone 14 models.

Reuters reported connected Friday that the Foxconn (2317.TW)-operated plant, which is the world's biggest iPhone factory, could spot a further driblet successful November shipments owed to idiosyncratic unrest and rising COVID-19 cases successful the country.

Separately, Bloomberg News reported citing a source earlier successful the time that determination could beryllium a shortfall of 6 cardinal iPhone Pro units this twelvemonth owed to production-related problems.

"The ongoing challenges astir delays successful returning to a mean level of accumulation astatine the Zhengzhou installation could bounds the gait with which supply-demand equilibrium tin beryllium reached successful the coming months," J.P. Morgan analysts said.

They added that pb times for Pro models person moderated but successful China wherever the timeline remains elevated.

Customers successful the United States hold for astir 33 days for their iPhone 14 Pro and Pro Max models to beryllium delivered home, portion the aforesaid models are not disposable for in-store pickup, the brokerage said.

Wall Street predicts Apple could suffer immoderate measurement owed to accumulation disruptions, with Wedbush Securities expecting astatine slightest 5% of units being affected and perchance up to 10% successful the archetypal quarter.

Apple did not instantly respond to a Reuters petition for comment.

Apple shares person fallen 3.4% successful November amid accumulation woes, compared with a 2% summation successful the Nasdaq Composite index.

Reporting by Akash Sriram successful Bengaluru; Editing by Sherry Jacob-Phillips and Anil D'Silva

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