The Clap
Apple (NASDAQ: AAPL) reduced all iPhone 14 models’ production in China due to COVID restrictions.
The Deets
The reduced production capacity is expected to lead to longer wait times and fewer units to be shipped out during the coming period.
So What
The reduced production capacity may also lead to fewer iPhone sales in the coming quarter. Demand continues to be strong, but the company’s factories in China have seen stricter policies and more COVID outbreaks.
Now What
This is expected to delay delivery time for iPhones, which already takes 31 days when ordered from the Apple website.