Apple shares fell about 2% on Monday, as growing unrest by workers at the world’s biggest iPhone factory stokes concerns over production of iPhone 14s.
Reuters reported on Friday that the factory of Foxconn, an Apple supplier, could see a further drop in November deliveries as thousands of workers resign amid discontent with the strict Covid-19 restrictions. to contain the rise of infections in China, where the unit is located.
Separately, Bloomberg News said earlier on Monday, citing a source, that there could be a shortage of 6 million iPhone Pro units in 2022 due to production-related issues.
The shortage has deterred many consumers from buying the smartphones during Black Friday — the busiest shopping period of the year — and is likely to reduce sales in the crucial holiday quarter.
Wedbush Securities estimated that the scenario could affect production between 5% and 10% of iPhone units in the current quarter. KGI Securities analyst Christine Wang projected the number at around 10 million units, or 12%, assuming the problems last into December.
Apple did not immediately respond to a request for comment.
Around 2:30 pm (Brasília time), Apple shares were down 2%, at US$ 145.2 each. In November, the shares fell 5.3%, compared with a 1.5% gain in the Nasdaq Composite index.
Source: CNN Brasil
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