Piper Sandler: Apple Won’t Be Hurt By China’s Latest Lockdowns

13 APRIL 2022 - While the latest round of COVID lockdowns in China will be a thing for Apple’s supply chain, they won’t be a big thing. That’s the thinking of a number of observers - most recently Piper Sandler analyst Harsh Kumar. Apple Insider has had a peek at a note he wrote. He points out that, while smaller iPhone makers in Shanghai and Kunshan have seen disruption, Foxconn - Apple’s largest iPhone supplier - has been going full bore since sometime last mont, and should be able to pick up the slack from the shuttered facilities. Additionally, Kumar points out, the June-quarter tends to be among Apple’s slowest, so a lack of supply would not be felt as keenly as it might. And finally, he believes that people who want iPhones but can’t get them will wait until iPhones become available. 

Kumar has a positive rating on Apple shares. He’s put Piper Sandler’s 12-month price target on the shares at $200.