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Apple may see $8 billion holiday revenue drop over iPhone delays
Thursday December 1, 2022. 02:09 PM , from AppleInsider
Investment bank Piper Sandler expects Apple and Foxconn to catch up with iPhone 14 Pro production in December, but will still fall short by around nine million iPhones.Although China has now lifted its latest COVID lockdown in Zhengzhou, Foxconn's major iPhone factory there is significantly behind on its production of the iPhone 14 range. In a note to investors seen by AppleInsider, Piper Sandler says that overall, it continues to 'believe that Apple remains a formidable brand.'While it is cutting its estimates for Apple's December quarter revenue by $8 billion, it still rates the company as Overweight despite our temporary reduction from unforeseen events.' Read more...
https://appleinsider.com/articles/22/12/01/apple-may-see-8-billion-holiday-revenue-drop-over-iphone-...
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