The labour protests in China could lead to Apple missing shipments targets for iPhone 14 Pro and Pro Max versions by up to 20 million units.
Famous smartphone tipster and analyst Ming-Chi Kuo of TF Securities reported what he believed to be a 20 per cent cut in iPhone shipments in the last quarter of 2022. He estimated that it could drop from the expected 80 million to 85 million units to about 70 million to 75 million units.
The protests appear to be more serious than the rest of the world noticed, likely because of news filtration by the Chinese government. In a report, TechCrunh revealed that spam tweets had been working overtime to block reports about events in China since November 25.bThe outlet claimed that some accounts were tweeting spam contents about adult videos and escort services as frequently as 10 seconds.
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Gadgets 360 said that Apple’s shares dropped by 2 per cent and was expected to drop a further 6 per cent. However, the next day after Kuo’s report, the world’s most valuable company saw its shares appreciate by about 1.5%.
Apple problem is not only shipments as there are some analysts predicting that the rising inflation and tech job cuts around the world, and especially in the US, could lead to reduced purchase of iPhone 14 Pro models than expected. Although, some expect that the sales of iPhone 14 Pro models could pick up later in 2023.
We will have to wait and see what Apple’s Q1 2023 report has to say about its sales.
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