Apple was unable to mass produce enough iPhone 14 Pro and iPhone 14 Pro Max units in the fourth quarter. In a rare move, the company made an official statement about the low sales. This may be why Apple records declining revenues in almost four years.
Analysts believe Apple will report slightly more than $121 billion in revenue in the December quarter, which is lower than what the company reported a year ago.
Foxconn had to temporarily close its Zhengzhou factory in China, resulting in disruptions to the iPhone 14 Pro and iPhone 14 Pro Max supply chain. Apple estimates that shipments in the fourth quarter of 2022 will be 20 million less than his. CNBC reports that UBS analyst David Vogt wrote in January about his Apple supply chain:
“14 Pro and 14 Pro Max US wait time hits 34 days, China wait time hits high end 36 days.
This string of setbacks means Apple will record its first decline in revenue in almost four years. Analysts say Apple plans to report revenue of just over $121 billion in the December 2022 quarter, up from the company’s $123.9 billion reported a year earlier. It will be slightly deducted from revenue.
Foxconn’s Zhengzhou factory assembles the majority of the world’s iPhones, so not only is Apple taking production away from China, but its partner has lost exclusivity on upcoming iPhone 15 Pro and iPhone 15 Ultra orders. Rumor has it. What earnings do you think Apple will announce in the next few days?
