Apple placing Foxconn's India plant on probation following investigation

  • Apple (NASDAQ:AAPL) said it is placing the southern India factory of its manufacturing partner, Foxconn, on probation after the tech giant and Foxconn found that some of its worker living spaces and dining rooms had substandard conditions, Reuters reported.
  • At this point, it's unclear what Apple (AAPL) means by probation, but Reuters added that another Apple supplier, Wistron, was also placed on probation last year and it was not awarded new business until it changed how it treated its workers.
  • An Apple spokesperson told Reuters that it sent independent auditors to investigate the conditions of the dormitories after it heard of "recent concerns about food safety and accommodation conditions at Foxconn Sriperumbudur."
  • Earlier this month, more than 250 women workers at the Foxconn plant were treated for food poisoning, with more than 150 hospitalized.
  • On Tuesday, it was reported that Apple (AAPL) is giving some of its engineers bonuses worth up to $180,000 in stock to keep them from defecting to other tech companies, including Meta Platforms (NASDAQ:FB) as it ramps up its augmented and virtual reality efforts.

    For this year the company from Cupertino could earn a total revenue around 381.75 billion USD. This is according to the average of the analysts' estimates. This is slightly more than 2021's revenue of 365.82 billion USD.

    Historical revenues and results Apple plus estimates 2021

    aandelenanalyse

    The analysts expect for 2021 a net profit of 93.46 billion USD. According to most of the analysts the company will have a profit per share for this book year of 5.74 USD. So the price/earnings-ratio equals 29.99.

    Analysts expect a dividend of 92 cents per share. Apple 's dividend yield thus equals 0.53 percent. The average dividend yield of the hardware & equipment companies is a limited 1.41 percent.

    Latest estimates around 185 USD

    The latest 3 recommendations for the hardware & equipment company were provided by Wedbush Morgan Securities, HSBC and D.A. Davidson & Co.

    Apple 's market capitalization is based on the number of outstanding shares around 2922.89 billion USD. 31

    At 18.00 the stock trades 1.81 percent lower at 172.17 USD.

    Historical stock prices Apple

    stock prices apple

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