iPhone supply – pressnews

[ad_1] Apple Inc. shares closed at their lowest level since June 2021 on Tuesday, amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period. Apple Inc. shares closed at their lowest level since June 2021 on Tuesday, amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period.The stock fell 1.4% in its third straight negative session. While Apple remains a modest outperformer for 2022, with a 27% decline that is narrower than the 34% drop of the Nasdaq 100 Index, it has lagged the tech-heavy gauge over the past month. Recent weakness has come as production halts in a major iPhone plant in China contribute to a supply shortfall of Apple's flagship product. Earlier on Tuesday, JPMorgan w...

[ad_1] With little warning, China locked down the world’s largest iPhone factory on Wednesday. It’s the last thing Apple Inc. needed. With little warning, China locked down the world's largest iPhone factory on Wednesday, declaring the zone around the Zhengzhou Foxconn Technology Group complex off-limits to combat a local Covid-19 outbreak. It's the last thing Apple Inc. needed. The abrupt move is expected to further disrupt a factory already grappling with an outcry over an on-site coronavirus outbreak, worker exodus and enforced quarantine. Local authorities said Wednesday that they'll sterilize Foxconn's campus and the surrounding areas in the next three days and send N95 masks to workers, another sign of the government's tightening grip. It served up a stark reminder of th...

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Big Setback for Apple; iPhone Supply Chain Takes Hit From China’s Covid-Zero Enforcers