Explosion Rocks Apple (AAPL) Supplier Facility, Could Affect iPad 2 Numbers
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Price: $315.06 +0.53%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
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Apple (Nasdaq: AAPL) might take a slight hit in iPad sales for the current quarter, following reports of an explosion at a key suppliers facility.
According to reports, Apple supplier Pegatron said there was an explosion at the soon-to-be-open facility at a subsidiary of Riteng Computer Accessory Co. in Shanghai, China. The event is said to have injured as many as 61 people, with damage to some machinery. No fire was reported from the incident.
Although the factory wasn't open yet, it was slated to produce back panels for the iPad 2 tablet, and could have an effect on Apple's supply chain should the issue not be resolved. Production can resume only after a government inspection is completed.
Reuters noted that this isn't the first time something like this has happened. Earlier in 2011, incidents occurred at Hon Hai twice, and there was a notable explosion at a Foxconn facility.
Apple is 0.3 percent higher Monday morning.
According to reports, Apple supplier Pegatron said there was an explosion at the soon-to-be-open facility at a subsidiary of Riteng Computer Accessory Co. in Shanghai, China. The event is said to have injured as many as 61 people, with damage to some machinery. No fire was reported from the incident.
Although the factory wasn't open yet, it was slated to produce back panels for the iPad 2 tablet, and could have an effect on Apple's supply chain should the issue not be resolved. Production can resume only after a government inspection is completed.
Reuters noted that this isn't the first time something like this has happened. Earlier in 2011, incidents occurred at Hon Hai twice, and there was a notable explosion at a Foxconn facility.
Apple is 0.3 percent higher Monday morning.
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