China locks down the Foxcon "iPhone City" where Apple's iphones are made due to COVID and yet AAPL is up 1%!?!

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ztirffritz
China locks down the Foxcon "iPhone City" where Apple's iphones are made due to COVID and yet AAPL is up 1%!?!

Lockdown = stock drying up = perception of unavailability of iPhones = run on purchasing iPhones = stock increase

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The stock market is not logical.

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mikebw
The stock market is not logical.

I stopped trying to figure how the mob mentality works (when it comes to stock valuation) sometime in the '90s; my dim recollections are that when companies posted stellar record earnings, their stock prices would nosedive, but if companies posted massive losses their stock prices would skyrocket.

Why should they stop making phones? They'll eat and bunk there-hell, probably next to their work stations!

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Disclaimer: This post is checked for correct spelling, punctuation, and grammar. Any attempts at humor are solely the responsibility of the author and bear no claim that any and all readers will approve or appreciate said attempt at humor.
My name is DP, and I approve this message.

"Show me the man and I’ll show you the crime."- Lavrentiy Beria

You know damn well the people who do the best with COVID are kids under 15.

So there will be no problem at the iPhone factory.

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chopper
You know damn well the people who do the best with COVID are kids under 15.

So there will be no problem at the iPhone factory.

Hmmm, a bunch of 14 y.o.s in lockdown together. Nope, no problems there.

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Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.

Workers flee world’s biggest iPhone plant in China over virus restrictions
7:42am 11/2/22

[www.washingtonpost.com]

For more than two weeks, Zhuo, who works on Foxconn’s iPhone assembly line in the Chinese city of Zhengzhou, was trapped inside the sprawling campus while the company battled a coronavirus outbreak in the middle of its peak production season.

As the plant instituted government instructions to seal itself off from the world in what is known as “closed loop” management, Zhuo, 19, watched co-workers get carted off to abandoned buildings repurposed as quarantine centers. The company pressured people back to work before it was clear they weren’t contagious.

On Friday, Zhuo decided to make a run for it. He climbed a seven-foot wall, ducked under a fence through a hole dug out by workers who fled before him and walked almost 15 miles before getting a ride from a passerby.

Few signs that China is trying to escape its ‘zero covid’ trap

“There were around 200 of us that evening. It was like a prison break movie,” Zhuo said by phone from a quarantine hotel near his home in Henan province. Zhuo did not give his full name out of security concerns.

>>>>

Analysts estimate that the covid controls in Foxconn’s Zhengzhou plant could affect 10 percent of global iPhone production, while Reuters, citing an unnamed source, reported that the output of iPhones could fall 30 percent this month. In an interview with the Chinese business publication Yicai, a Foxconn manager said about 60 percent of employees in his department were still working and that output could be cut by half.

Apple did not immediately respond to requests for comment on the situation.

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Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.



Edited 1 time(s). Last edit at 11/02/2022 10:44PM by Speedy.