Connect with us

Hi, what are you looking for?


Apple’s iPhone sales could take another hit in December quarter

Apple Inc (NASDAQ: AAPL) is trading down on Monday after the multinational said it was temporarily cutting iPhone 14 production, citing the COVID restrictions at its primary facility in Zhengzhou, China.

Apple could sell fewer iPhones this quarter

The tech behemoth, over the weekend, said that the “Foxconn” facility that produces the majority of its iPhone 14 Pro and iPhone 14 Pro Max is running at “significantly reduced capacity” following the recent lockdown in Zhengzhou.

What it means is that the iPhone sales will likely be lower this holiday quarter as customers will have to wait longer to receive the new handset.

The news is all the more concerning since Apple has already had a weak quarter in terms of iPhone sales. Late last month, it reported $42.63 billion in iPhone sales for its fourth financial quarter versus $43.21 billion expected. (find out more)

Apple shares are now down about 25% for the year.

Is today’s news a cue to sell Apple shares?

On the bright side, though, Apple Inc said demand for its higher-priced iPhones remains very strong. On top of that, Samik Chatterjee – Senior Analyst at JPMorgan says the temporarily lowered production doesn’t mean much anyway.

There’s limited evidence [in history] that delays in shipping devices have had any impact on overall volumes for a product cycle over a multi-quarter period. Consumer willingness to wait for high-end iPhones limits demand destruction.

Foxconn is aiming to resume production at full capacity by the end of November.

Those interested in buying Apple shares should also consider that Wall Street, despite the macro and company-specific challenges, is sticking with its “overweight” rating on the Nasdaq-listed firm.

The post Apple’s iPhone sales could take another hit in December quarter appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...


    U.S. District Court Judge Reed O’Connor recently ruled to uphold the rights of employers granted in the Religious Freedom Restoration Act, rather than uphold...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023