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

Apple Inc's 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.
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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 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.