Planning to buy Apple’s shiny new iPhone 14 as Black Friday kicks off the holiday shopping season? May you get success The device is in extremely short supply online and at the company’s retail outlets, according to Wedbush analyst Dan Ives.
“We believe demand for iPhone 14 units far outstrip supply over the all-important Black Friday holiday weekend, and this could lead to large shortfalls heading into the Christmas season,” they said in a report on Friday.
Shortcoming, a Production has slowed at Foxconn, the electronics maker that assembles iPhones for Apple in China. China’s “zero-covid” policy isn’t helping either. Authorities reported a record high number of COVID-19 cases in mainland China for the second day in a row on Friday. The rising caseload has prompted new and widespread residential lockdowns as well as business closures in several major cities.
“The zero-COVID China shutdown at Foxconn has been a major blow to Apple this quarter and we believe has taken approximately 5% of iPhone 14 units out of the supply chain and thus the Cupertino into a ‘major deficit.’ months,” Ives said.
He expects Apple to sell about 8 million iPhones over the Black Friday weekend, down from 10 million a year ago.
The labor struggle at Foxconn this week is causing another headache for Apple. A dispute broke out over pay and working conditions at the company’s factory in Zhengzhou in central China, Taiwanese company On Thursday, police cracked down on the employees, blaming a pay dispute on a “technical error” in adding new employees.
“If Zhengzhou remains at reduced capacity over the next few weeks and unrest with workers continues to build, it will lead to a clear shortage of the iPhone Pro, particularly in the US over the all-important Christmas period,” Ives said.
The Associated Press contributed to this report