Analysts at Piper Sandler on Thursday cut their revenue and iPhone sales estimates for Apple Inc's December quarter, as Beijing's strict lockdowns crimp production at the world's biggest iPhone factory in Zhengzhou, China.
A man talks on a phone in front of an Apple logo outside its store, following the coronavirus disease outbreak in Shanghai, China, November 7, 2022. REUTERS/Aly Song/File Photo
Dec 1 - Analysts at Piper Sandler on Thursday cut their revenue and iPhone sales estimates for Apple Inc's December quarter, as Beijing's strict lockdowns crimp production at the world's biggest iPhone factory in Zhengzhou, China. The brokerage now expects $119 billon in revenue for the current quarter from an earlier projection of $127.3 billion, with iPhone unit sales of about 74 million against 83 million previously expected.Zhengzhou plant. Majority of the disruptions took place in the month of November where utilization for the plant may have fallen to 50% or below," the analysts said.
Apple might prioritize iPhone 14 Pro production over other models, the brokerage said, given the higher average selling price for the product.
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