Some U.S. companies are warning that Covid-19 lockdowns in Shanghai and elsewhere in China are denting sales, disrupting operations and putting added strain on supply chains that could be felt well into the summer.
Apple said it could take a sales hit of as much as $8 billion in its current quarter, primarily because of the Shanghai lockdowns. Industrial giant Honeywell International said the Covid measures had curbed production at half of its Chinese plants. J.B. Hunt Transport Services said the freight carrier’s customers are worried about deliveries scheduled for July.
To Read the Full Story
