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Apple stock fell in early trading Monday after the tech giant warned that Covid-related manufacturing shutdowns in China are slowing shipments of its iPhone 14 Pro, and Pro Max models.  “Covid-19 restrictions have temporarily impacted the primary iPhone 14 Pro and Pro Max assembly facility located in  Zhengzhou, China,” Apple said.  “The facility is currently operating at significantly reduced capacity.   We are prioritizing the health and safety of the workers in our supply chain.”  Apple says that it continues to see “strong demand for iPhone 14 Pro and Pro Max models, but “now expect lower shipments than previously anticipated. Customers will experience longer wait times to receive their new products.”  “This latest Zero-Covid situation is an absolute gut punch for Apple in its most important holiday quarter.   With demand remaining firm into holiday season, we would estimate this negatively impacting roughly 3% of iPhone sales this quarter.”  Foxconn has about 200,000 workers at the  Zhengzhou complex, it has not disclosed the number of infected workers nor the number who have left, but said it would not stop them from departing.  Apple said they are working closely with their supplier to return to normal production levels. While ensuring the health and safety of every worker.  #Zhengzhou #factory #manufacturing #covid19 #covid #shutdown #smartphones #cupertino #tim #cook #ceo #workers #make #walkout  #apple #shorts #bullet #point #bulletins #news #china #vertical #video #apple #china #foxconn #iphone14 #iphone14pro #iphone14promax
Apple stock fell in early trading Monday after the tech giant warned that Covid-related manufacturing shutdowns in China are slowing shipments of its iPhone 14 Pro, and Pro Max models. “Covid-19 restrictions have temporarily impacted the primary iPhone 14 Pro and Pro Max assembly facility located in Zhengzhou, China,” Apple said. “The facility is currently operating at significantly reduced capacity. We are prioritizing the health and safety of the workers in our supply chain.” Apple says that it continues to see “strong demand for iPhone 14 Pro and Pro Max models, but “now expect lower shipments than previously anticipated. Customers will experience longer wait times to receive their new products.” “This latest Zero-Covid situation is an absolute gut punch for Apple in its most important holiday quarter. With demand remaining firm into holiday season, we would estimate this negatively impacting roughly 3% of iPhone sales this quarter.” Foxconn has about 200,000 workers at the Zhengzhou complex, it has not disclosed the number of infected workers nor the number who have left, but said it would not stop them from departing. Apple said they are working closely with their supplier to return to normal production levels. While ensuring the health and safety of every worker. #Zhengzhou #factory #manufacturing #covid19 #covid #shutdown #smartphones #cupertino #tim #cook #ceo #workers #make #walkout #apple #shorts #bullet #point #bulletins #news #china #vertical #video #apple #china #foxconn #iphone14 #iphone14pro #iphone14promax

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