To The Moon

Foxconn's flagship iPhone plant in 🇨🇳 is set to see a further reduction in Nov shipments after the latest bout of worker unrest this week, with over 20,000 employees quitting😨

The factory is the only 1 which makes premium iPhone models, including the iPhone 14 Pro, & is unlikely to resume full production by the end of this month.

The 🌎 largest 🍎 iPhone factory has been grappling with strict COVID-19 restrictions that have fuelled discontent among workers & disrupted production ahead of Christmas & Jan's Lunar New Year holiday, as many workers were either put into isolation or fled the plant.

Following Wed’s (23/11) escalation that saw workers clash with security personnel, Foxconn could now see more than 30% of the site's November production affected, up from an internal estimate of up to 30% when the labour issues erupted in late Oct😓

Investors have growing concerns over 🍎‘s ability to deliver products for the busy holiday period. 🍎 shares fell 1.96% Analysts said iPhones at 🍎 stores in the 🇺🇸 during the Black Friday shopping season were also down from a year earlier, & it was taking longer to replenish stocks.

🤔💭 My Thoughts:

(1) 🍎 is still viewed as 1 of the more resilient stocks in the tech sector & has been outperforming other MAANG stocks when inflation got out of hand & rate hikes escalated. With $Apple(AAPL)$ struggling, $Alphabet(GOOGL)$ $Amazon.com(AMZN)$ are also facing downward pressure, so I'm 🐻-ish about $NASDAQ(.IXIC)$ & $TQQQ(TQQQ)$ too...

(2) 🐻 investors will be closely watching the 🇨🇳 Covid numbers & Dec Fed rate announcement. Any dovish Fed official speeches may help the market rally.

Do share your thoughts in the comments section and please help to click on the “Like” and “Share/Repost” buttons, so that more 🐯🐯🐯 can access this information, many thanks🤗🥰

As usual-🤔💭 Consider POV & Actions of investors + 👩🏻‍💻👨🏻‍💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰

Source Websites: Reuters & Yahoo. 

@TigerStars @CaptainTiger @MillionaireTiger @Daily_Discussion (25/11)