Apple: Key iPhone Plant in China Nears Full Production Capacity

By Senad Karaahmetovic

Apple’s stock is experiencing a slight increase in premarket trading on Tuesday following reports that the largest iPhone manufacturing facility is nearing full production capacity.

The Foxconn factory located in Zhengzhou is currently operating at 90% of its full capacity. A source with direct knowledge of the situation stated that "production has almost fully resumed."

The output from the Zhengzhou plant faced significant disruptions due to a major COVID-19 outbreak. Additionally, employees at the facility held protests over unpaid wages, prompting Foxconn to offer bonuses in order to attract new workers.

Previous reports indicated that Foxconn aimed to achieve full production by early January.

Several analysts tracking Apple have reduced their estimates and price targets due to ongoing supply chain issues in China, leading to a more than 12% decline in the company’s stock in December.