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Factory closures in China are costing Apple $1 billion a week in revenue, threatening to dent sales during the holiday season, the busiest season of the year.

These delays mainly stem from the closure of one of China’s largest factories, following the escalation of Corona injuries, in which demonstrations and clashes broke out between workers and security personnel yesterday which prevented workers from entering the factory. And high levels of inflationary pressure on the company’s projected sales, which has led analysts to lower the company’s profit estimates for this quarter, which in turn could lead to more pressure on Apple’s stock price. According to Jefferies, a consulting firm, every week of factory closures in China cost the company $1 billion in revenue and plunge its stock price by a cent.

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