Nov 28 Reuters Shares of Apple Inc fell 1.4 on Monday as growing worker unrest at the world39;s biggest iPhone factory in China fanned worries of a deeper hit to the already constrained production of higherend iPhone 14 models.
Reuters reported on Friday that the Foxconn operated plant could see a further drop in November shipments as thousands of employees quit amid discontent over strict COVID19 restrictions to curb rising infections in China.
Separately, a Bloomberg News report citing a source said earlier in the day that there could be a shortfall of 6 million iPhone Pro units this year due to productionrelated problems.
The shortages kept many consumers from buying the highend phones during Black Friday the year39;s busiest shopping period and are likely to dampen sales in the crucial holiday quarter.
Wedbush Securities estimated that the production snafus could affect between 5 and 10 of iPhone units in the current quarter. KGI Securities analyst Christine Wang pegged the figure at around 10 million units, or 12, assuming the issues last through December.
Apple did not immediately respond to a request for comment.
The ongoing challenges around delays in returning to a normal level of production at the Zhengzhou facility could limit the pace with which supplydemand equilibrium can be reached in the coming months, J.P. Morgan analysts said.
U.S. customers wait for about 33 days for their iPhone 14 Pro and Pro Max models to be delivered home, and the same…