Yahoo Finance's Jared Blikre breaks down how stocks are performing after the Fed meeting minutes were released.
(Bloomberg) -- Apple Inc. is planning to keep iPhone production roughly flat in 2022, a conservative stance as the year turns increasingly challenging for the smartphone industry.Most Read from BloombergFed Saw Aggressive Hikes Providing Flexibility Later This YearBiden Demands US ‘Stand Up’ to Gun Makers After Texas AttackWhy So Few Big Rats Have Fled Putin’s ShipStocks Climb in Volatile Session After Fed Minutes: Markets WrapThese Are the Best — and Worst — Cities for Work-Life BalanceThe comp
An outbreak of COVID-19 in China has kept its financial hub Shanghai largely paralysed by a city-wide lockdown — now in its seventh week. The iPhone maker's supplier Foxconn has been able to keep its workers on-site in a "closed loop" system to limit the impact on production, but lockdowns in the country have pushed many to sound demand-related warnings. Apple had also said last month any new lockdowns in China and Taiwan, where many parts and iPhones are produced, could bring new obstacles in terms of supply and demand in the current quarter.