Apple Supplier Pegatron Halts iPhone Production At Facility Near India's Chennai Due To Heavy Rains
Portfolio Pulse from Charles Gross
Apple's supplier Pegatron has suspended iPhone production at its facility near Chennai, India, due to heavy rains, according to sources cited by Reuters.
December 04, 2023 | 12:24 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Apple may face supply chain disruptions and potential revenue impacts due to the suspension of iPhone production at Pegatron's Chennai facility.
The halt in production at a key supplier's facility can lead to supply chain bottlenecks for Apple, potentially affecting its ability to meet demand for iPhones. This could have a negative impact on Apple's short-term revenue and stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The production halt at Pegatron's facility may have a localized impact on the Indian market, potentially affecting the performance of the INDA ETF.
While INDA is an ETF that tracks the Indian market broadly, disruptions in local manufacturing, especially involving a major global brand like Apple, could have a negative impact on investor sentiment and the performance of the ETF in the short term.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50