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Apple is Down as China’s Unrest Could Lead to Fewer iPhone Production
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Apple is Down as China’s Unrest Could Lead to Fewer iPhone Production

On Monday, Bloomberg reported that Apple (NASDAQ: AAPL) could experience a shortfall of around 6 million iPhone Pro units this year due to the unrest at the Zhengzhou manufacturing hub in China. This manufacturing facility is operated by AAPL’s iPhone supplier, Foxconn.

The Zhenghou Foxconn plant has been facing one challenge after another including COVID-related disruptions and was further hurt by violent protests by workers last week due to delayed bonus payments. Employees had earlier expressed their disappointment over the working conditions at the plant amid stringent COVID restrictions.

However, analysts continue to be bullish about AAPL stock with a Strong Buy consensus rating based on 24 Buys and four Holds, as indicated by the above graphic.

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