Apple's iPhone Pro Shipments May Miss Consensus By 20M, Analyst Says

• Apple Inc's (NASDAQ: AAPL) iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said.

• He trimmed his estimate for quarterly iPhone shipments by about 20% to between 70 million - 75 million units, compared with the market consensus of 80 million - 85 million units.

• Kuo also predicted that the supply shortfall could erase demand for the more popular Pro models instead of deferring sales as consumers also grapple with a weakening economy.

• Also Read: Key Apple Supplier Foxconn Ropes Taiwan Semiconductor Chip Veteran For Newly Created Role

• Other Apple analysts expect sales to pick up once production constraints ease and more Pro models become available, Reuters reports.

• Some analysts signaled the possibility of the challenges extending into 2023.

• Kuo is the latest to flag a hit to the world's most valuable company from protests over pay and strict COVID-19 curbs at the biggest iPhone factory, the Hon Hai Precision Industry Co Ltd (OTC: HNHPF) Foxconn -operated plant in Zhengzhou.

• Price Action: AAPL shares traded higher by 0.55% at $141.94 in the premarket on the last check Wednesday.

Latest Ratings for AAPL

Date	Firm	Action	From	To
Mar 2022	Barclays	Maintains		Equal-Weight
Feb 2022	Tigress Financial	Maintains		Strong Buy
Jan 2022	Credit Suisse	Maintains		Neutral

View More Analyst Ratings for AAPL

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