- Apple Inc's (NASDAQ:AAPL) iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said.
- He trimmed his estimate for quarterly iPhone shipments by about 20% to between 70 million - 75 million units, compared with the market consensus of 80 million - 85 million units.
- Kuo also predicted that the supply shortfall could erase demand for the more popular Pro models instead of deferring sales as consumers also grapple with a weakening economy.
- Also Read: Key Apple Supplier Foxconn Ropes Taiwan Semiconductor Chip Veteran For Newly Created Role
- Other Apple analysts expect sales to pick up once production constraints ease and more Pro models become available, Reuters reports.
- Some analysts signaled the possibility of the challenges extending into 2023.
- Kuo is the latest to flag a hit to the world's most valuable company from protests over pay and strict COVID-19 curbs at the biggest iPhone factory, the Hon Hai Precision Industry Co Ltd (OTC:HNHPF) Foxconn -operated plant in Zhengzhou.
- Price Action: AAPL shares traded higher by 0.55% at $141.94 in the premarket on the last check Wednesday.
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