JP Morgan has trimmed its Apple price target to $200 from $205 because of touch macroeconomic conditions, despite the company's strong March quarter results that prove it's a "safe haven" for investors.
Apple is not providing revenue guidance for the June quarter, but says that it expects a $4 billion to $8 billion impact from Covid-19 disruptions and supply constraints.
A pair of Foxconn factories in Kunshan, China, have halted operations following a COVID-19 scare, but the Apple assembly partner insists production output won't be affected.
Apple assembly partner Foxconn has set itself new targets to cut down on its emissions, with an aim of a 21% reduction by the company by 2025.
Recent shutdowns at key Apple suppliers present increased risks to the company despite the continued diversification of the iPhone maker's supply chain.
Apple is likely to use parts supplied not just by new supply partner Jahwa Electronics but also from long-time supplier LG for a rumored periscope zoom camera module for the iPhone 15.
Officials in Zhengzhou, home of Apple's primary iPhone manufacturing base, have mandated Covid testing in areas around Foxconn facilities and adjacent parts of the city.
Apple's high-end MacBook Pro models appear to be affected by lockdowns in key Chinese manufacturing cities, while stock of the iPhone SE doesn't appear to be impacted yet.
Supply issues caused by Covid-19 lockdowns in key Chinese manufacturing cities are unlikely to significantly affect Apple, according to Piper Sandler.
Strict Covid-19 lockdowns in China are affecting more operations in Apple's supply chain, including key manufacturers of iPhone, iPad, and MacBook models.
A new Covid-19 outbreak in the Chinese city of Kunshan has resulted in fresh lockdowns and testing mandates, potentially snarling Apple's iPhone and iPad production.
Apple supplier Taiwan Semiconductor Manufacturing Co. reported revenue of $17 billion in the first quarter of 2022, an increase of 36% year-over-year.
Demand for consumer electronics is appearing to slow amid geopolitical and pandemic uncertainties, and TSMC's chairman says that rising costs of components could be passed on to consumers.
Apple is launching a Supplier Employee Development Fund in partnership with labor and education organizations, spending $50 million to empower suppliers' employees through training.
A former Apple employee has allegedly defrauded Apple out of $10 million, according to federal authorities, by using his position as a supply chain buyer to obtain kickbacks and to make Apple pay for undelivered goods and services.
Apple assembly partner Foxconn is planning to build a new $9 billion facility in Saudi Arabia, a report claims, a factory that could be used to expand its business into auto production, possibly even the Apple Car.
Apple's Mac Studio and other products may arrive with consumers later than expected, with a COVID lockdown in Shenzhen, China impacting manufacturers and shipments.
Apple is continuing to plan its development of the "Apple Car," with it said to be in discussions with a substrate producer in South Korea concerning the creation of chips for the automotive project.
Apple's famous need for secrecy within its supply chain has led to many of its suppliers refusing to refer to the iPhone maker by name, with it only referred to by various nicknames to avoid contract breaches and financial penalties.
The Russian invasion of Ukraine could exacerbate existing supply chain problems affecting the electronics production industry, though the effects may take time to be felt.
{{ summary }}
Mike Peterson
Malcolm Owen
William Gallagher
