Apple’s stock outperformed the market in 2017, and analyst Daniel Ives reiterated his outperformance rating and $200 price target for the company on Friday despite the fact that he pointed to shortages of the iPhone 14 Pro and higher wait times for devices with extremely low supplies. ..
This article discusses how iPhone 14 Pro shortages are up to 25% to 30% lower than normal in many Apple Stores.
Apple shares fell 2.2% on Friday, making him the worst performer among his 30 stocks on the Dow Jones Industrial Average DJIA, +0.54%, and up about -0.5%. His COVID-19 zero policy in China continues to affect Apple’s supply chain. A protest was held at Foxconn’s main iPhone production base in Zhengzhou, waiting up to 40 days for the new iPhone 14 Pro. Apple’s stock prices fell 2.2% on Friday, putting him among the worst performers on the Dow Jones Industrial Average DJIA, +0.54%, and up about -0.5%. The company’s COVID-19 zero policy in China continues to have an effect on its supply chain; a protest was held at Foxconn’s main iPhone production base in Zhengzhou, waiting up to 40 days for the new iPhone 14 Pro. ..
Apple is expected to sell 8 million iPhones this Black Friday weekend, down from 10 million last year.
Apple is having production issues with about 5% of its iPhone 14 units in the supply chain, and Ives estimates that the company could face a significant shortage in December.
Apple’s Zhengzhou production facility is struggling to keep up with demand for the iPhone Pro, and this is likely to cause a shortage in the U.S. during the holiday season. ..
In the past, Foxconn has been known for its strict labor laws and its ability to resolve disputes quickly. But recent reports suggest that the company may be using a different approach in light of recent labor disputes.
