On Monday, Bloomberg reported that Apple (NASDAQ: AAPL) could experience a shortfall of around 6 million iPhone Pro units this year due to the unrest at the Zhengzhou manufacturing hub in China. This manufacturing facility is operated by AAPL’s iPhone supplier, Foxconn.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The Zhenghou Foxconn plant has been facing one challenge after another including COVID-related disruptions and was further hurt by violent protests by workers last week due to delayed bonus payments. Employees had earlier expressed their disappointment over the working conditions at the plant amid stringent COVID restrictions.
However, analysts continue to be bullish about AAPL stock with a Strong Buy consensus rating based on 24 Buys and four Holds, as indicated by the above graphic.
