Mayhem at Apple’s largest manufacturing facility as protests break out – The Average Joe
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    Mayhem at Apple’s largest manufacturing facility as protests break out

    victorlei

    November 23, 2022

    Foxconn’s plant in Zhengzhou, China, is Apple’s largest iPhone production facility — with as many as 200,000 workers living in a domestic campus.

    The city has been under strict COVID restrictions since the start of November — as China flip-flops between reopening and closing.

    Protests erupted at the factory in recent days.

    How did it all go down?

    • Foxconn denied bonuses to workers.
    • Workers were scared of staying beside infected peers.

    One worker screamed: “Please help us spread the word and get us on national headlines!” And it worked.

    $AAPL investors, should you be worried?

    95% of iPhones are produced in China. Alarming.

    47% of Apple’s revenue came from iPhones. Better.

    3% (3 million) fewer iPhone deliveries are expected this year. Calm yet?

    Apple is much less reliant on iPhone sales now, compared to 2017, when nearly 70% of sales came from the category.

    After falling 10% in the week after the latest COVID restrictions in China, $AAPL is back to where it traded at the start of the month — showing just how resilient its stock has been.

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