Apple, a member of FAANG group, received unpleasant news towards the end of the previous year. Not only did their stock drop, the predictions for high sales of their latest smartphone model, the iPhone 14 in 2023, also went down. The obstacle to the stock's growth is the restriction of shipments of new iPhones from Zhengzhou, China, due to other covid measures, according to reports from research firm Trendforce. Total iPhone 14 shipments will be 78.1 million units, even lower than the previous prediction. The current forecast is for 47 million units in the fiscal first quarter. This will be due to labour shortages in China, where Foxconn manufactures its famous products. In addition, the well-known retailer JD.com has announced a New Year's Eve sale with discounts of $129 on the iPhone 14 and $143 on the iPhone 14 Plus. These events indicate that the iPhone will not sell as fast as expected.
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