Finally, some welcome news for Apple (AAPL) on the iPhone production front. On Tuesday, the Chinese authorities called an end to the Covid lockdown in Zhengzhou – also referred to as iPhone city - home to Foxconn's major Apple production hub. This is no doubt a positive development in what Wedbush’s Daniel Ives says has been a “horror show” for Apple’s iPhone production. The analyst reckons that over the past month, production has been operating at around 20%-30% of capacity, the result of which has been a “massive, unprecedented iPhone shortage globally,” which heading into the Christmas holidays is obviously far from ideal.
https://www.tipranks.com/news/article/apples-iphone-woes-ease-but-questions-remain-around-future-production-in-china?utm_source=advfn.com&utm_medium=referral