AAPL with the Captain Obvious warning on supply reduction.
In brief from a company statement:
- COVID-19 restrictions have temporarily impacted the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility located in Zhengzhou, China. The facility is currently operating at significantly reduced capacity. As we have done throughout the COVID-19 pandemic, we are prioritizing the health and safety of the workers in our supply chain.
- We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated and customers will experience longer wait times to receive their new products.
- We are working closely with our supplier to return to normal production levels while ensuring the health and safety of every worker.
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Weekend in China:
This article was originally published by Forexlive.com. Read the original article here.