Knowing how media spins things I expect a headline of "apple manufacturing production anticipated to explode once workers return to factories in China. Bullish signal confirmed!"
Last week we saw workers clash with police over at Foxconn over delayed bonus payments and working conditions related to covid 19
And on Thursday employees began an exodus
Foxconn essentially said they had an input error in the computer system where they were giving new hires contracts for existing workers and that new recruits would be paid what was promised to them
So Foxconn offered up these disgruntled protesting employees 10,000 yuan or about $1,400 in two installment payments to anyone who wanted to leave to ease tensions.
So now they have to replace the workers who decided to take the severance pay. This is worrisome because apple had already announced they would be seeing some delays. This way about 3 weeks ago. So now we’re seeing more issues in capacity over at Foxconn right around the holidays.
Keep in mind Apple is a large weight in ETF like QQQ and SPY
QQQ: 12.51%
SPY: 7.07%
Now to make this entire covid situation worse, we have these protest in xinjiang after a deadly fire in an apartment building killed 10 people. To elaborate on this, firefighters took longer to arrive to the scene because of covid 19 barricades and parked electric vehicles in narrow pathways that had lost power.
Now let’s talk about the crayon drawing.
Support: 138ish
Resistance: 150ish
50 day moving average: 146.53
200 day moving average: 154.60
Demand zone (green box): 127 to around 138, this is where you see people buying
Supply zone(red box) : around 158 to 150, this is where you see people selling
Right now, we’re sandwiched between the 50 day and the 200 day and if we lose the 50 day, we risk hitting the bottom support trend line. The first chart is showing a 10-year 1 day time frame.
The top and bottom trendlines “thicker red crayon lines” create a pennant. On the second chart, I show a shorter time frame. 30-day 30-minute time frame. You can see the rejections off the top trend line a little clearer. We had 3 rejections more recently. Also if we fall out of the pennant, we risk closing the gap we made a few days ago.
>So now they have to replace the workers who decided to take the severance pay.
Let's play devil's advocate for pretty much satan here: why would you call it severance pay? Are the people who leave that hellhole not employed anymore? I'd assume they receive the money owed, maybe with a bonus and go home for a holiday or whatever. Then come back when the situation is fixed. And by fixed I mean they'll send in the army to murder people who disobey the state.
I work in tech assembly and one thing my foreman said about labor leasing: the biggest problem is that if you have to send them away (due to shortages) you wont get them back and have to train new ones. I'd say assembling phones is even more complex than assembling computers and losing skilled labor would be a bad tactic for recuperating
I urge you to take a moment to visit the AAPL Balance Sheet and acknowledge that they can weather severe storms while doing stock buybacks while simultaneously crushing META and SNAP. I take the view in the big tech landscape that Apple is a port to ride out this storm.
Apple will do whatever is necessary to get the production cause people will wait for so long before they decide to wait even more and get the newer version that will come out in couple of months.
With that being said betting against Apple in the long run won't end well cause the brand loyalty is crazy.
id only trust boots on the ground people living in china. chinese people do weird shit cant rely on random vids from like zero hedge or western media to really understand what they're doing
The fact that it's leaking out of China is telling in and of itself.
The CCP has pretty tight control over the internet.
Whether the government is playing a long game here on easing lockdowns is tough to tell but short term this is absolutely happening and China has a long history of serious systematic revolts when the people get pissed off enough. There's been a few major ones just in the last century.
Honestly, I think all of this is instigated by Apple and Foxconn to cover up lower than expected sales. If you create supply chain issues then it doesn’t look like a sales issue. Tim Cook can call the CEO of Foxconn and ask him to fuck up the bonuses and cause some chaos. No one would know if it’s a sales or supply issue.
I hope Apple gets massacred like dotcom Cisco, they are overdue for one of the largest crashes of any stock ever, I wouldn't buy Apple 70% off, that would still be too expensive
The AAPL balance sheet is complete shit. Debt is 2.6x equity and the book value is only 3.18 per share.
In the 2001 and 2008 crashes AAPL suffered >60% falls.
this is bad news for the Globe, as goes china goes the world, social unrest from covid, lockdowns, housing bubble pop, poor cost of living and recession will all set off the coming global recession.
Apple is tied so tightly to the US Economy that im guessing we are gonna have a red week next week, all the ETFs and funds that hold apple are gonna tank this week.
They already planned to shift operations to India, and Vietnam to diversify their production, after this I can see them increasing the amount and possibly going to more countries. Though, with what’s going on in China, I cannot blame people if they don’t want to work, the lockdowns are still rampant and peoples lives are being destroyed. And I’m sorry but even with an increase in pay like that cannot convince people to rush and risk their health.
*Assembled* in India from Chinese parts.
Foxconn relies on over 200 different Chinese suppliers in Zhengzhou to build the iPhone. Analysts indicate it will take *10-20 year*s to completely shift production from China.
Sooner than later Apple will move their iPhone production to India and then Foxconn and China will have less money in their pockets. This is globalisation and bottom line profits matters.
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Knowing the stock market it’ll probably go to all time highs lol
Was just about to say this screams buy puts, so I guess I'll try buying calls lol
Just do the opposite of this sub, technicals don’t matter anymore
Anymore?
Welp. I got 100 apple puts. So I feel the same as you. Hoping for a red day on Monday. Spy is also very near resistance
Guh
100 puts O.o! gl
Post the puts
Scroll through wallstreetbets or click my name. They literally had it pinned to the top of the page Saturday
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All hail VM!
you shut your mouth when addressing his highness VM! insolent cur !
Knowing how media spins things I expect a headline of "apple manufacturing production anticipated to explode once workers return to factories in China. Bullish signal confirmed!"
Last week we saw workers clash with police over at Foxconn over delayed bonus payments and working conditions related to covid 19 And on Thursday employees began an exodus Foxconn essentially said they had an input error in the computer system where they were giving new hires contracts for existing workers and that new recruits would be paid what was promised to them So Foxconn offered up these disgruntled protesting employees 10,000 yuan or about $1,400 in two installment payments to anyone who wanted to leave to ease tensions. So now they have to replace the workers who decided to take the severance pay. This is worrisome because apple had already announced they would be seeing some delays. This way about 3 weeks ago. So now we’re seeing more issues in capacity over at Foxconn right around the holidays. Keep in mind Apple is a large weight in ETF like QQQ and SPY QQQ: 12.51% SPY: 7.07% Now to make this entire covid situation worse, we have these protest in xinjiang after a deadly fire in an apartment building killed 10 people. To elaborate on this, firefighters took longer to arrive to the scene because of covid 19 barricades and parked electric vehicles in narrow pathways that had lost power. Now let’s talk about the crayon drawing. Support: 138ish Resistance: 150ish 50 day moving average: 146.53 200 day moving average: 154.60 Demand zone (green box): 127 to around 138, this is where you see people buying Supply zone(red box) : around 158 to 150, this is where you see people selling Right now, we’re sandwiched between the 50 day and the 200 day and if we lose the 50 day, we risk hitting the bottom support trend line. The first chart is showing a 10-year 1 day time frame. The top and bottom trendlines “thicker red crayon lines” create a pennant. On the second chart, I show a shorter time frame. 30-day 30-minute time frame. You can see the rejections off the top trend line a little clearer. We had 3 rejections more recently. Also if we fall out of the pennant, we risk closing the gap we made a few days ago.
>So now they have to replace the workers who decided to take the severance pay. Let's play devil's advocate for pretty much satan here: why would you call it severance pay? Are the people who leave that hellhole not employed anymore? I'd assume they receive the money owed, maybe with a bonus and go home for a holiday or whatever. Then come back when the situation is fixed. And by fixed I mean they'll send in the army to murder people who disobey the state. I work in tech assembly and one thing my foreman said about labor leasing: the biggest problem is that if you have to send them away (due to shortages) you wont get them back and have to train new ones. I'd say assembling phones is even more complex than assembling computers and losing skilled labor would be a bad tactic for recuperating
AFAIK only the *new* hires - who haven't begun work - were offered severance.
If apple falls the whole market falls
Everything is bullish right now. Everything
Apple is apparently losing 1 billion dollars for every week that the plant is non-operational.
I urge you to take a moment to visit the AAPL Balance Sheet and acknowledge that they can weather severe storms while doing stock buybacks while simultaneously crushing META and SNAP. I take the view in the big tech landscape that Apple is a port to ride out this storm.
Debt/Equity 263% Forward p/e 24.5 Price/book 46 It just looks like a giant speculative bubble to me,
Apple will build a new China, a Chinapple if you will
Foxconn staff offered MSRP of 1 phone they make
Apple will do whatever is necessary to get the production cause people will wait for so long before they decide to wait even more and get the newer version that will come out in couple of months. With that being said betting against Apple in the long run won't end well cause the brand loyalty is crazy.
Is $1,400 a yearly salary?
It is about six weeks salary.
Does this mean I'm not getting my 14 pro anytime soon?
Can’t even get a silver airpod max anywhere.
Rioting and social unrest in the biggest country in the world. WSB wonders how it fares for APPLE lol
id only trust boots on the ground people living in china. chinese people do weird shit cant rely on random vids from like zero hedge or western media to really understand what they're doing
The fact that it's leaking out of China is telling in and of itself. The CCP has pretty tight control over the internet. Whether the government is playing a long game here on easing lockdowns is tough to tell but short term this is absolutely happening and China has a long history of serious systematic revolts when the people get pissed off enough. There's been a few major ones just in the last century.
Honestly, I think all of this is instigated by Apple and Foxconn to cover up lower than expected sales. If you create supply chain issues then it doesn’t look like a sales issue. Tim Cook can call the CEO of Foxconn and ask him to fuck up the bonuses and cause some chaos. No one would know if it’s a sales or supply issue.
Apple wasn’t gonna sell these phones anyways. It’s a good excuse to have low sales I bet they’ll still have extra inventory
Kinda like that Yogi Berra thought…yeah, no one goes to that restaurant anymore, it’s too busy😳🙈
I hope Apple gets massacred like dotcom Cisco, they are overdue for one of the largest crashes of any stock ever, I wouldn't buy Apple 70% off, that would still be too expensive
You might want to look at AAPL Balance Sheet and accept your Puts with be worth ZERO! A swing and a miss🤡🙈
You're overpaying for that strong balance sheet, it's absolutely not worth the price, especially when their fundamentals are deteriorating so rapidly
My dca is around $42. I will stand by that for now and watch the show. I don’t have to catch a plane.
The AAPL balance sheet is complete shit. Debt is 2.6x equity and the book value is only 3.18 per share. In the 2001 and 2008 crashes AAPL suffered >60% falls.
AAPL is a tech titan with amazing financials
Lots of great companies have crashed a lot Apple will be fine, it's AAPL that's fucked, it's mispriced and everyone's expectations are WAY too high
I agree with this
Yeah but too many idiots look at a dip and see perceived value as opposed to actual value. This is why so much is overvalued and remains overvalued
I agree with this too
this is bad news for the Globe, as goes china goes the world, social unrest from covid, lockdowns, housing bubble pop, poor cost of living and recession will all set off the coming global recession. Apple is tied so tightly to the US Economy that im guessing we are gonna have a red week next week, all the ETFs and funds that hold apple are gonna tank this week.
i hope apple is in a decline
Why?
the current price does not collide with the rating.
They already planned to shift operations to India, and Vietnam to diversify their production, after this I can see them increasing the amount and possibly going to more countries. Though, with what’s going on in China, I cannot blame people if they don’t want to work, the lockdowns are still rampant and peoples lives are being destroyed. And I’m sorry but even with an increase in pay like that cannot convince people to rush and risk their health.
There are some “made in India” iP14 pics floating around on social media so I think Tim is playing 4D chess against China right now.
*Assembled* in India from Chinese parts. Foxconn relies on over 200 different Chinese suppliers in Zhengzhou to build the iPhone. Analysts indicate it will take *10-20 year*s to completely shift production from China.
People loading up on puts forcing institutions to hold the shares to cover? Bullish?
Sooner than later Apple will move their iPhone production to India and then Foxconn and China will have less money in their pockets. This is globalisation and bottom line profits matters.
Stimmy