#covid-19 lockdowns

[bighermie]

COVID-19 Lockdowns Damaged Speech and Mental Development of Children, Say Teachers

COVID-19 restrictions have damaged children developmentally in ways that might be irreparable, teachers say. From early childhood to ...

[sunny420wasagabeach]

Canada's Coercive COVID-19 Mandates a 'Tragic Error': Former Ontario Chief Medical Officer

Canada's public health agency made a "tragic error" by grounding its COVID-19 response policies on coercion rather than ...

[concord28]

How Attractive Is Socialism Now?

Commentary In Charles Dickens’s much-loved story "A Christmas Carol," the crotchety protagonist, Ebenezer Scrooge, is visited by three ...

[newsupdatesbykiara]

Apple faces up to $8 billion revenue hit due to Covid-19 lockdowns in China

The ongoing Covid-19 lockdowns in China are set to make a huge dent in Apple revenue for the April-June quarter as the company has indicated up to $8 billion loss in sales especially owing to the Shanghai lockdown.

As Shanghai entered the second month of lockdown and more cities in China face pandemic restrictions, demand for Apple products in the country might slow further, reports Nikkei Asia.

Apple CEO Tim Cook said in an earnings call this week that "we have estimated the constraints to be in the range of $4 to $8 billion and these constraints are primarily centred around the Shanghai corridor".

"The COVID-related disruptions are also having some impact on customer demand in China," added Apple CFO Luca Maestri.

The report said that more than half of Apple's 200 main suppliers have facilities in Shanghai and the surrounding regions.

"The lockdowns and traffic restrictions disrupt a broad swath of business activities in the region," the report said on Friday.