Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Nasdaq 100: Apple shares down as Foxxcon disruption continues

The disruption at Apple’s iPhone facility in China continues to be a headache for the business, with production expected to be down for the important Christmas period.

Apple Source: Bloomberg

Apple shares down

There are plenty of problems for Apple and its iPhone production at its Chinese factory.

In particular Foxconn, the Zhengzhou plant's November shipments are expected to fall further, according to a report out from Reuters today. It's all about worker unhappiness. There have been riots at the plants. The plant doesn't employ enough people to continue to produce iPhones at the rate that Apple has requested.

Over 20,000 workers, according to reports, have left the plant. And this isn't a flagship iPhone plant for Apple. And China is very much underperforming the plans that Apple had for this particular site. And the site is the only factory where iPhone makes these premium iPhone models, including the iPhone 14 Pro, and it's unlikely to resume full production, according to Reuters, by the end of this month.

Share price chart

In fact, if you look at the Apple share price, there hasn't really been much move today. The stock is currently down all sessions on the IG platform. This is before US markets get under way today. It was no trade yesterday because of the Thanksgiving Day holiday. But we can see in terms of the movement in the session, in today's trade, we are down by a margin of just about about two thirds of 1%.

So not much move, but the news is not particularly good. And unless Apple can get some sort of resolution to this really quickly, there will be further problems.

Part of this is the fact that workers have been given what they perceive to be very difficult conditions in which to work because of the Zero-Covid policy. But at the moment at least, Apple is having continuing problems with the iPhone production in China.

Apple daily chart

Source: IG

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

Act on share opportunities today

Go long or short on thousands of international stocks with CFDs.

  • Get full exposure for a comparatively small deposit
  • Trade on spreads from just 0.1%
  • Get greater order book visibility with direct market access
Learn more

See opportunity on a stock?

Try a risk-free trade in your demo account, and see whether you’re on to something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off
Log in now

See opportunity on a stock?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Trade a huge range of popular stocks
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform
Log in now

See opportunity on a stock?

Don’t miss your chance. Log in to take your position.

Take advantage

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.