The first quarter of Apple’s fiscal year, which is likely to encompass the December holiday season, is anticipated by investors.

In October, a Covid incident occurred in Zhengzhou, the country’s largest iPhone manufacturer.

The owner of the factory, Foxconn, imposed limitations.

Due to a pay disagreement, there had been multiple employee walkouts by November.

Foxconn made an effort to bring them back with bonuses.

The situation has improved since then.

According to Reuters, the factory was also nearly operating at full capacity on Tuesday.

The incident showed how much Apple relies on China to produce its iPhones.

The plant was running at a much lower capacity as a result of the Covid restriction, according to the tech giants.

Refinitiv predicts that the company may announce a 1% annual revenue reduction in the December quarter.

Investors who had high hopes for the iPhone 14 have also expressed concern.

Apple, however, is dealing with more than just supply chain problems…………..Read More

Source:- US Insider