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Fortune
Fortune
Will Daniel

How bad are the 'iPhone city' riots for Apple stock? Analysts see a 'body blow' for the most valuable company on earth

A staff member wearing personal protective equipment (PPE) disinfects a factory at Industrial Park of Foxconn on November 6, 2022 in Zhengzhou, Henan Province of China. (Credit: VCG/Getty Images)

Hundreds of workers at the world's largest iPhone factory in Zhengzhou, China protested strict zero-COVID policies, poor working conditions, and mismanaged contracts on Wednesday—and analysts warn it could be a “body blow” for Apple.

Videos posted on social media showed violent clashes between authorities and employees of Foxconn, a contract assembler that makes iPhones. The protests are an escalation of tensions that underscores the growing dissent against the living conditions at factories across China during COVID.

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