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Apple stock slides ahead of holidays amid protests in China and supply chain crunch

November 29, 2022
Source: finance.yahoo.com finance.yahoo.com
News Snapshot:
Apple (APPL) is facing one of its biggest operational challenges in years, as protests in China roil the tech giant’s supply chain during the holiday shopping season. According to Bloomberg, Apple supplier Foxconn will produce 6 million fewer iPhone units than anticipated as employees at the manufacturer’s Zhengzhou-based facility demonstrated against China’s ongoing zero-COVID policy. Workers at the 200,000-person plant have called out the policy’s strict lockdowns, complaining about, among other things, a lack of adequate food supplies at the factory. Shares of Apple fell more than 3% Monday in midday trade. The protests come as citizens in other Chinese...
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