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Apple Projects Billions In Revenue Loss Over Supply Constraints From China Amid Lockdowns

apple-projects-billions-in-revenue-loss-over-supply-constraints-from-china-amid-lockdowns

Beijing’s strict COVID-19 control policies have significantly limited Apple’s consumer product output, according to one of its suppliers.
In April, the iPhone maker predicted that supply constraints would cost the company up to $8 billion in revenue for the current quarter.
Taiwanese contract manufacturer Pegatron, one of Apple’s largest suppliers for specific iPhone models, on May 12 said operations at its major assembly plant in Shanghai were constrained by citywide lockdown measures and the company expected output to drop this quarter. The company did not further elaborate on the specific volume of production cuts, South China Morning Post (SCMP) reported….  » Read full article

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