Apple warns that iPhone 14 Pro and Pro Max shipments will be affected by China production issues - MarketWatch

Apple AAPL, -0.19% acknowledged successful its merchandise that COVID-19 issues person “temporarily impacted” accumulation of the devices astatine the Zhengzhou tract that is the “primary” assembly installation for the iPhone 14 Pro and iPhone 14 Pro Max. That installation is presently seeing “significantly reduced” operating capacity.

“We are moving intimately with our supplier to instrumentality to mean accumulation levels portion ensuring the wellness and information of each worker,” the institution added successful the release.

Analysts person been discussing iPhone accumulation disruption astatine shaper Foxconn’s 2354, +0.22% Zhengzhou installation for the past week amid fallout from COVID-19 restrictions successful the city.

“Although Apple net were lone a week ago, proviso shortages astatine the precocious extremity of the marketplace and caller COVID lockdowns successful China impacting a Foxconn works could negatively interaction iPhone units successful the December quarter,” UBS expert David Vogt wrote Wednesday, up of Apple’s property release. “While we judge iPhone request tends to not beryllium perishable, a slippage of a mates of cardinal units is imaginable beneath our 86 cardinal forecast.”

While Apple was the lone Big Tech company to spot its shares rally successful the aftermath of its late-October net report, shares person struggled much since then. They logged their worst play show since March 2020 past week.