Edited By: Shaurya Sharma
Last Updated: January 04, 2023, 11:38 IST
Epic Systems is the largest provider of electronic health records in the US.
Apple, for Q1 2023, has reportedly cut orders across its different product lines—specifically AirPods, MacBooks, and Apple Watch.
As news of major reductions in product orders from Chinese suppliers spreads, Apple shares have plunged. The revelation of the order reduction has prompted a 3.55% decline in Apple’s NASDAQ value, despite earlier reports claiming that production at a significant iPhone facility in Zhengzhou had returned to 90% capacity.
As per the report by AppleInsider via Nikkei Asia, Apple’s supply chain in China is facing challenges amid the easing of COVID lockdowns and reopening of factories, with reports indicating that the company has significantly cut orders from its supplier.
“Apple has alerted us to lower orders for almost all product lines actually since the quarter ending December,” a source conveyed to Nikkei Asia, “partly because the demand is not that strong.”
The source further stated that the supply chain in China is having difficulty adapting to the latest sudden policy changes. These changes have resulted in a shortage of laborers due to the sharp increases in COVID cases.
Apple, for Q1 2023, has reportedly cut orders across its different product lines—specifically AirPods, MacBooks, and Apple Watch but the exact figures are yet to be in the clear.
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