UBS analyst David Vogt estimates that shipments of iPhones in China have rebounded in May, increasing 16% from April levels, according to The Fly. This suggests that the COVID-19-related lockdowns and resulting supply chain problems may finally be abating.
This follows reports late last month that government officials in several of China's largest cities had eased pandemic-related restrictions, resulting in steady improvement in the country's manufacturing capability.
Vogt went further, estimating that overall shipments of the iPhone have increased by 13% year over year and an eye-popping 155% month over month, further evidence of recovery in both iPhone production and delivery. UBS maintained its estimate for iPhone shipments during the second calendar quarter at 42 million, but it said that updated data "increases our confidence that our June forecast could be conservative."