Piper Sandler cuts estimates for Apple’s December quarter over CCP ‘Zero COVID’ crackdowns

Piper Sandler analysts on Thursday cut their estimates on revenue and iPhone sales Apple’s December quarter (fiscal Q123), as the Chinese Communist Party’s strict lockdowns and resultant unrest have negatively impacted production at the world’s biggest iPhone factory in Zhengzhou, China.Reuters:The brokerage now expects $119 billon in revenue for the current quarter from an earlier projection of $127.3 billion, with iPhone unit sales of about 74 million against 83 million previ