Piper Sandler: Apple will lose $ 8 billion due to problems in the production of the iPhone
Investment bank Piper Sandler estimated the financial losses of Apple due to the stoppage of smartphone production. This is reported by Appleinsider.
An internal note from the bank says that Apple and Foxconn will catch up with iPhone production, but will still be missing about nine million devices. Analysts noted that the lost profit of the American corporation will amount to about eight billion dollars in the quarter.
The experts reminded that against the backdrop of the Christmas holidays at the end of the year, increased demand is expected in the market, but Apple will not be able to fully satisfy it. “We are lowering our estimates for Apple primarily due to supply chain concerns related to unrest at the Zhengzhou plant,” the specialists emphasized. At the same time, the financiers called the observed problems temporary – in the long run they should not affect the status of the company. “Apple will still remain a formidable brand,” the authors of the report noted.
Protests at China’s largest iPhone factory will cut iPhone production by six million, according to Bloomberg’s early forecast.
Earlier, an authoritative analyst Ming-Chi Ko announced a drop in sales of Apple smartphones. According to the expert, by the end of the year, the IT giant will produce 20 percent fewer smartphones than in the same period in 2021.
Source: Lenta
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