Apple (AAPL) PT Raised to $170 at Barclays

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Apple's (AAPL) Exposure to Shenzhen and Suzhou 'Manageable but Significant' - BofA

March 14, 2022 8:29 AM EDT

BofA analyst Wamsi Mohan has reflected on news that China placed Shenzhen under lockdown for a week, and extended lockdowns in Suzhou amid a surge in COVID-19 cases.

For Apple (NASDAQ: AAPL), Mohan sees manageable but significant exposure as Shenzhen (part of Guangdong province) is a hub for a material part of the iPhone supply chain. Suzhou (part of Jiangsu province) is also a popular location for Apple suppliers.

Apple/Foxconn have the ability to relocate production to other areas in the short term provided that there is not a significantly higher duration of... More