Apple's Key Supplier Resumes Partial Operation At Shenzhen Campuses


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  • Apple Inc (NASDAQ:AAPL) supplier Hon Hai Precision Industry Co Ltd (OTC: HNHPF), also known as Foxconn, resumed partial operations and production at its two Shenzhen campuses, one of which makes iPhones, after assuming Covid measures, Bloomberg reports.
  • Foxconn had suspended operations after Shenzhen imposed a city-wide lockdown, including its Guanlan factory.
  • Foxconn has resumed some production at its China headquarters and the Guanlan campus. After adopting a “closed-loop” system across its campuses, it won the approval to resume business.
  • The closed-loop “process, is only possible on campuses that include both employee housing and production facilities, adheres to strict industry guidelines and close-loop management policies issued by the Shenzhen Government,” Foxconn said.
  • Analysts saw a minimal impact on Apple due to the lockdowns.
  • Price Action: AAPL shares traded higher by 1.55% at $157.49 premarket on the last check Wednesday.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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