Apple was hit with iPhone shortages on Black Friday while customers shopped for deals.
Analyst sees roughly 8 million iPhones sold on the Black Friday weekend, down from 10 million a year ago.
Supply chain issues and lockdowns in China are likely to blame for the shortages.
If you're looking for deals this Black Friday on the latest iPhone models, you may be out of luck.
Shoppers across the country are reporting shortages of iPhone 14 products, including the iPhone 14 Pro and iPhone 14 Pro Max in Apple stores, online retailers, and big box electronics stores, according to a report by Reuters. Online wait times for orders of the new iPhone 14 Pro are now up to 40 days on Apple's website.
The company is facing supply chain snafus due to pandemic-related component shortages and COVID-19 lockdowns in China. Reports of worker unrest at supplier Foxconn pushed Apple shares down about 2% this week, while the tech heavy Nasdaq rose almost 1%. Earlier this month, Apple warned of delays in shipments following a significant production cut at Foxconn's Zhengzhou plant due to China's strict pandemic policies.
"We believe many Apple Stores now have iPhone 14 Pro shortages based on model/color/storage of up to 25-30% below normal heading into a typical December, which is not a good sign heading into holiday season for Cupertino," Wedbush analyst Dan Ives wrote in a note to investors on Friday.
Ives expects roughly 8 million iPhones will be sold on the Black Friday weekend, down from 10 million a year ago, mainly due to these supply challenges.
An Apple spokesperson did not respond to a request for comment on Friday afternoon.
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