Wedbush analyst Daniel Ives notes that China has officially lifted the lockdown on Zhengzhou, also known commonly as iPhone city with Foxconn’s (HNHPF) main Apple (AAPL) production artery located in this key area. This is some good news in what has been "a horror show" for Apple around iPhone production, which has been operating at roughly 20%-30% of capacity over the past month and is resulting in a "massive unprecedented" iPhone shortage globally heading into Christmas holidays, Ives says. The analyst has an Outperform rating and a price target of $200 on Apple’s shares.
Published first on TheFly
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