iPhone Lovers' Fate Undecided As China Battled Rising Covid Cases, Lockdowns - Apple (NASDAQ:AAPL), Hon Hai Precision (OTC:HNHPF)

The most oversized Apple Inc AAPL iPhone factory will continue to be subject to Covid restrictions, Bloomberg reported.
The authorities in China lifted a lockdown in the district where the plant is located but said some areas would likely serve as high risk.
The city of Zhengzhou ended a district-level lockdown order for the area around the airport.
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Still, several areas within that district will remain classed as "high risk" under the city's Covid rules. They will continue to be subject to lockdown-like curbs. That includes restrictions on people leaving their homes.
The list of high-risk areas encompasses the Hon Hai Precision Industry Co Ltd HNHPF Foxconn Technology Group plant known as 'iPhone City.' The restriction implied a limited flow of goods and people into and out of Apple's main production base, potentially reducing iPhone shipments over the U.S. holidays.
The city's ongoing restrictions have prompted Apple to warn that it would ship fewer premium devices than anticipated.
For now, the factory will continue to operate under a so-called closed loop to keep production going, said a spokesperson for Foxconn, Apple's key contract manufacturer in China.
While Zhengzhou's government aims to balance virus prevention and economic development, infections continue to rise in the city, making the easing of curbs a risky exercise. Zhengzhou reported 1,043 Covid cases for Tuesday, up from 733 a day earlier.
Price Action: AAPL shares are down by 1.40% at $137.55 on the last check Wednesday.

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