$AAPL Factories in China remain shuttered as some regions extend shutdowns amid coronavirus quarantine efforts PUBLISHED MON, FEB 10 20201:25 AM EST Some provinces and districts have now told companies not to resume work till March 1. “That ... is a major blast to the global value chain, not only for China, but the world,” said Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis. This reportedly includes major companies like Taiwan-listed Hon Hai Precision Industry, better known as Foxconn and the world’s largest iPhone assembler. The company is still “trying very hard” to get clearance to reopen plants in other parts of China, Reuters reported. In a note on Sunday, Wedbush Securities wrote that this development could be “a shock to the system and disrupt the supply chain further for Apple” for both iPhones and AirPods which were already facing a shortage.
  • 3