Apple risks breaking a 14-quarter growth streak during the peak holiday period as chaotic conditions at its assembly plant in China hit iPhone production, marking the company’s biggest supply chain challenge since the onset of the pandemic.
Analysts have been cutting Apple earnings estimates after the group issued a rare warning on November 6 that manufacturer Foxconn’s factory in Zhengzhou was experiencing “significantly reduced capacity” of high-end iPhone 14 Pro and Pro Max models.
Foxconn has shifted some iPhone production to its other plants in China but has struggled make up for the shortfalls from Zhengzhou as wait times for the devices have almost doubled to 37 days from a month ago, according to Counterpoint Research.
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