iPhone factory in Zhengzhou still subject to COVID-19 restrictions as China lifts lockdown - Seeking Alpha

Pornpak Khunatorn

Foxconn's mill successful Zhengzhou, China that produces a important information of Apple's (NASDAQ:AAPL) iPhones is inactive taxable to COVID-19 restrictions adjacent arsenic China lifted the lockdown successful the city, Bloomberg reported.

The quality outlet, citing a authorities statement, noted that a district-level lockdown has ended for the country adjacent the airport, but different areas wrong the territory are inactive seen arsenic "high risk" and taxable to lockdown rules.

Foxconn's Zhengzhou mill volition run nether a closed loop, the quality outlet added, citing a connection from a spokesperson.

In different COVID-19 news, The Wall Street Journal reported that Guangzhou, China, 1 of the country's largest manufacturing hubs, has besides been locked down arsenic the world's astir populous state continues to woody with caller COVID-19 variants that are much transmissible than erstwhile strains.

On Sunday, Apple (AAPL) issued a statement that iPhone 14 shipments would beryllium negatively impacted owed to the COVID-19 issues.

Apple shares were down astir 0.7% to $138.48 successful premarket trading.

On Tuesday, Morgan Stanley and UBS tweaked estimates related to the interaction from China's COVID-19 lockdown successful Zhengzhou, with Morgan Stanley saying an accidental to "buy the dip" successful Apple (AAPL) has emerged.