Apple has not changed shipping plan for iPhone 14 despite Shanghai lockdown: analyst
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Apple (NASDAQ:AAPL) has not changed its plans for iPhone 14 shipping, despite some reports suggesting production is being impacted by COVID-related lockdowns, according to an influential analyst.
TF International Securities analyst Ming-Chi Kuo tweeted on Thursday that his latest checks showed that the iPhone 14 Max is "running behind," but it is currently "under control" and Apple's (AAPL) suppliers can work overtime to catch up with its schedule.
Kuo added that he believes challenges related to the iPhone 14 will come from softening demand, not a lack of supplies.
Apple (AAPL) shares rose nearly 2% to $143.08 in early trading on Thursday.
Earlier this week, it was reported that Apple (AAPL) had discussed with its suppliers the notion of speeding up the process of the development of its iPhone as COVID-19 lockdowns across China have slowed the output and may cause distribution delays.
Separately on Thursday, it was reported that Cupertino, California-based Apple (AAPL) would keep iPhone production flat in 2022 at roughly 220 million units, showing zero growth from 2021.
In April, Apple (AAPL) Chief Financial Officer Luca Maestri warned revenue for the upcoming quarter could be impacted by as much as $8 billion, citing COVID-related constraints in China and the continued chip shortage.
Apple (AAPL) recently started to roll out its Tap to Pay on iPhone service to some of its own retail stores, with the feature eventually letting small businesses take credit card payments directly from their iPhone, without the need for additional hardware.