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A renowned Apple Inc. (NASDAQ:AAPL) analyst on Wednesday suggested that the China COVID-19 lockdown situation could evolve more as a demand problem for the iPhone maker than as a production issue.
China's "zero-COVID" policy would have a more significant impact on the demand side than on the production side, TFI Securities analyst Ming-Chi Kuo said in a series of tweets.
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"It's a potential system risk in [the second] half of 2022 for all brands and upstream suppliers," the analyst said.
Explaining his rationale, Kuo said demand-side risk occurs when consumption of essentials increases, leaving less to spend on consumer discretionary items such as consumer electronics.
Reacting to a Reuters report that said Hon Hai Precision Industry Co., Ltd. (OTC:HNHPF) isn't shutting down production at its facility in the COVID-19-hit Zhengzhou city, Kuo said if curbs in the city aren't lifted by June, iPhone 14 production may be impacted by logistics and workforce allocation.
Related Link: Apple Analyst Sees Limited Upside/Downside In Stock Until This Happens
Why It's Important: Apple has a rich launch pipeline scheduled for the second half of the year. The period is also traditionally stronger for the company, given it encompasses the back-to-school and holiday quarters.
The specter of lower output and softer demand, therefore, does not bode well for the company.
Price Action: Apple closed Wednesday's session 4.10% higher at $166.02, according to Benzinga Pro data.
Related Link: Apple Analyst Warns Of 'Considerable Risk' For Tech Sector In Coming Months
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.