Apple stock fell 3% today as it was hit by two headwinds — protests in China threatening iPhone production and claims of “censorship” lodged by new Twitter owner Elon Musk.
The more material challenge, at least in the near term, concerns the company’s all-important iPhone production pipeline, which has been hurt by protests across China against the country’s extreme, “zero-Covid” measures.
Some accounts have describe the actions as the largest public anti-government demonstrations since the student uprisings in Tienanmen Square in 1989.
Disruptions at Apple factories related to the protests could cut the output of iPhones by several million devices, just as the company heads into the home stretch of the holiday-season fourth quarter.
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