Apple Shares Dip In Premarket Amid Covid Protest At China’s Biggest iPhone Factory

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Apple Shares Dip In Premarket Amid Covid Protest At China’s Biggest iPhone Factory
United States Latest News,United States Headlines
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Clashes at the plant highlight both the growing discontent around China’s stringent zero-Covid policy and the vulnerability of Apple’s iPhone supply chain.

Violent clashes broke out between security personnel and workers at China’s largest iPhone factory protesting delayed bonus payments and poor living conditions caused by stringent pandemic rules on Wednesday, marking growing discontent within China over the continued use of harsh lockdowns as part of the country’s zero-Covid policy....

Due to China’s rigid zero-Covid policy and recent outbreaks in Zhengzhou, workers at the Foxconn iPhone factory have been forced to live on-site in a closed bubble and isolated in dorm rooms while dealing with food shortages, lack of access to medicines and other issues.

Apple’s stock was down 0.26% in pre-market trading but continued disruptions at the factory could cause serious repercussions for the tech giant as the plant reportedly manufactures 80% of the latest generation of iPhone.

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