Many shoppers looking for Apple’s latest high-end phones returned empty handed from its stores this Black Friday as the technology company struggles with production snafus in China.
“The iPhone shortages are accelerating and were front and centre this morning on Black Friday across many retailers, Apple Stores, and online channels,” Wedbush analyst Dan Ives wrote in a note. “We believe many Apple Stores now have iPhone 14 Pro shortages based on model or colour or storage of up to 25%-30% below normal heading into a typical December, which is not a good sign heading into holiday season for Cupertino,” he said referring to Apple’s headquarters.
Shares of Apple ended down 2.0% after a source at its supplier Foxconn told Reuters on Friday that iPhone production could be further hit due to worker unrest at the plant. Apple did not respond to a request for comment on Friday. In a statement on November 7, it said it expected lower iPhone 14 Pro and iPhone 14 Pro Max shipments than previously anticipated.
Published in The Express Tribune, November 27th, 2022.
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