IPhone Pro Output Estimates Cut by Morgan Stanley After Lockdown
- Zhengzhou disruption seen curbing premium device production
- Early 2023 expected to make up lost ground with more units
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Apple Inc.’s most in-demand iPhones this year, the premium Pro models, will fall short of earlier shipment estimates by 6 million units, due to the disruption at their main assembly hub in China, Morgan Stanley said in a note.
Assemblers of the iPhone are now expected to ship 79 million units in the current quarter, analysts led by Sharon Shih wrote this week. The shortfall from the previous 85 million handsets estimate is entirely down to the iPhone 14 Pro and 14 Pro Max, assembled at the Zhengzhou facility in central China, hit by a surprise weeklong lockdown after a Covid outbreak. Apple acknowledged delays in deliveries and a likely lower shipment of devices due to the disruption.