iPhone 14 Pro shipments may fall by 20 million units from market estimates after China factory unrest: Kuo

TF Securities analyst Ming-Chi Kuo said that Apple’s iPhone 14 Pro and Pro Max model shipments may fall short of market expectations by up to 20 million units during the holiday quarter due to the labor unrest in China. a big factory in China.

Kuo is the latest to mark a blow to the world’s most valuable company from wage protests and strict COVID-19 restrictions at the world’s largest company. Iphone factory, the Foxconn– The factory operates in the center of Zhengzhou city.

He cut his estimate for quarterly iPhone shipments by about 20% to between 70 million and 75 million units, compared with the market consensus of 80 million to 85 million units.

Apple Shares traded down more than 2 percent, set to add to their 6 percent drop so far this month as worries grow over shipments during the key holiday sales season.

Kuo, in a blog post on Tuesday, also predicted that supply shortages could erase demand for the more popular Pro models, rather than delay sales, as consumers also grapple with the weakening economy. .

By contrast, other Apple analysts expect sales to pick up as production restrictions ease and more Pro models launch.

“We note that Pro devices sold out in early January, but we expect some missing revenue to trickle into Q3,” said CFRA Research analyst Angelo Zino.

Zino said the restrictions are coming at the worst possible time and the most severe since the early days of the pandemic.

Some analysts signal the possibility that the challenges will last until 2023.

“I can’t imagine 2023 will be a successful year for Apple’s iPhone,” said Zeno Mercer, research analyst at investment advisory firm ROBO Global.

“Those who want to upgrade have, and otherwise disposable income for next-generation phones will drop.”

© Thomson Reuters 2022

Apple launched the iPad Pro (2022) and iPad (2022) alongside the new Apple TV this week. We discuss the company’s latest products, along with our review of the iPhone 14 Pro on trajectorypodcast Gadgets 360. Orbit is available on Spotify, gaana, JioSaavn, Google Podcasts, Apple Podcasts, amazon music and wherever you get your podcast.
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