Wednesday, February 1, 2023 3:37 pmNo Comments

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Apple is expected by analysts to report its first decline in quarterly revenue in nearly four years after the Chinese Communist Party’s quixotic “Zero COVID” lockdowns during the quarter stymied iPhone production at its biggest assembler Foxconn.

Reuters:

The world’s biggest public company is expected to report on Thursday that iPhone sales fell about 5% for the all-important holiday quarter, according to Refinitiv. The last time iPhone sales slipped was in the August-October period in 2020, months into the COVID-19 pandemic.

UBS analysts expect iPhone sales to have held up better in the United States than China and Europe, as the economies reeled from the impact of COVID-19 and the Russia-Ukraine war.

Some demand for the iPhone will likely be pushed into the current quarter after supply restrictions in the first quarter and some demand lost due to lack of product availability in the holiday period, BofA analyst Wamsi Mohan said.

The disruption at the world’s biggest iPhone plant in Zhengzhou, China triggered a rare warning from Apple in November and limited stocks of its higher-end iPhone 14 models during what is typically its biggest sales quarter, powered by product launches and the holidays.

MacDailyNews Take: Again, the December quarter’s pain will be the March quarter’s gain!

These iPhone 14 Pro sales are merely deferred, not lost. Some may shift down to iPhone 14 and iPhone 14 Plus, but most buyers will simply wait for supply to catch up amidst strong demand. – MacDailyNews, November 16, 2022

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