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    2317   TW0002317005

HON HAI PRECISION INDUSTRY CO., LTD.

(2317)
  Report
End-of-day quote Taiwan Stock Exchange  -  2022-06-23
110.00 TWD   +1.85%
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Apple's iPhone development schedule delayed by China lockdowns - Nikkei

05/25/2022 | 04:43am EDT
Apple iPhone 13 Pro models in the colour

May 25 (Reuters) - Apple Inc has told its suppliers to speed up iPhone development after China's strict COVID-19 lockdowns hampered schedule for at least one of the new phones, Nikkei reported on Wednesday, citing multiple sources with knowledge of the matter.

Lockdowns due to China's zero-COVID policy led iPhone assembler Pegatron Corp to suspend operations at its Shanghai and Kunshan plants earlier this year.

Financial hub Shanghai remains largely paralysed by a city-wide lockdown, which is now in its seventh week, while Beijing has ramped up quarantine efforts.

Apple last month forecast bigger problems as COVID-19 lockdowns snarled production and demand in China, with the war in Ukraine adding to the iPhone maker's woes.

In the worst-case scenario, Apple expects the manufacturing schedule and initial production volumes of the new phones to be hurt, the Nikkei business daily reported.

Foxconn declined to comment on the matter, while Apple and Pegatron did not respond to Reuters' requests for comment. (Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 2.45% 141.66 Delayed Quote.-22.13%
HON HAI PRECISION INDUSTRY CO., LTD. 1.85% 110 End-of-day quote.5.77%
NIKKEI 225 1.23% 26491.97 Real-time Quote.-7.99%
PEGATRON CORPORATION 1.48% 68.5 End-of-day quote.-0.87%
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Financials
Sales 2022 6 238 B 210 B 210 B
Net income 2022 146 B 4 929 M 4 929 M
Net cash 2022 316 B 10 636 M 10 636 M
P/E ratio 2022 10,4x
Yield 2022 4,89%
Capitalization 1 525 B 51 313 M 51 313 M
EV / Sales 2022 0,19x
EV / Sales 2023 0,17x
Nbr of Employees 826 608
Free-Float 84,5%
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Technical analysis trends HON HAI PRECISION INDUSTRY CO., LTD.
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Last Close Price 110,00 TWD
Average target price 135,67 TWD
Spread / Average Target 23,3%
EPS Revisions
Managers and Directors
Yang-wei Liu Chairman & Chief Executive Officer
Te Tsai Huang Head-Finance & Deputy Spokesman
Kuo Cheng Wang Independent Director
Kuo Chuan Kung Independent Director
Ta wei Kuo Independent Director
Sector and Competitors