“Apple Inc. shares fell in early trading after Foxconn Technology Group, the biggest assembler of Apple products, froze hiring across China,” Amy Thomson and Tim Culpan report for Bloomberg. “Apple fell as much as 1.9 percent to $451.25 in early U.S. trading and traded at $456.01 at 8:10 a.m. New York time. It declined to $459.99 yesterday.”
“Foxconn halted recruitment until the end of March after more employees returned from the Chinese New Year break than a year earlier, Bruce Liu, a spokesman for the Taipei-based company, said today in a phone interview,” Thomson and Culpan report. “The decision wasn’t related to iPhone 5 production, he said.”
Read more in the full article here.
MacDailyNews Take: And the hunt for a real reason for AAPL to decline continues – besides rampant fomenting, of which this is yet another example, of course.
Is this news from wall shit journal?
MDN take:
I really think the Big Boys ( hedge funds, etc. ) are just pissed they can’t get their hands on that 140 billion.
That and the paid shills posing as Analcysts .
I think you’re right. If theres one thing a rich person hates its a richer person.
How is a freeze in hiring equal a slowdown in production ? If i have a slowdown in production I would fire workers, not stop hiring them no?
It’s not as if all previous hiring was to increase the workforce, a lot of it was to maintain existing levels after people didn’t come back. The whole “article” seems without any context at all.
Since when did Apple haters need ‘context’ mind.
Using logic is not going to stop Apple’s share price from dropping. You should be used to it by now. Besides, the article probably doesn’t have anything to do with the drop.
Yes. “… hiring across China” What about in Brazil and other countries?
All the Windows PC box suppliers that Foxconn makes boxes for are tanking. I guess it is too difficult to pull that information together. So, the real story is increasing demand for Apple product is helping to hold the production employee levels at Foxconn in China! Thank you Apple!
I’ve not read the article, but from what was posted here, isn’t it just saying that they don’t need to hire people to replace others because they’ve not lost as many people as they had last year, and thus aren’t having to replace them. It’s not as if they’re firing people. If it was that they’d previously grown their workforce by x percent excluding any replacements and now aren’t then it mean something in certain contexts (albeit not necessarily in relation to Apple).As it is, surely this doesn’t mean anything other than being uninformed malicious gossip.
whether the news is FUD or not , Apple China or Foxconn should at least issue some statements regarding the matter. that’s why each
company hire spokesman. This will at least stop FUD going around.
Or maybe the reasons behind are TRUE.
In Breaking News today, AAPL shares declined on reports of a decrease in rice noodles at Foxconn plant.
The shares were further battered by the news of more global warming (people don’t need iPhones if the oceans rise and they are underwater). However shares rebounded slightly when Apple announced they are looking into waterproofing their iDevices. Wall St. was encouraged by learning of Apple’s looking to significantly enlarge the staff of their Global Warming Preparedness department.
However the shares were again hammered after the EPA issued a warning that the native grizzly bear population has declined to historic lows. No one is sure why this is affecting AAPL share price, but apparently it is.
In other news, it was revealed today that most brokerage firms have actually been hiring only witch doctors, voodoo specialists and Spiritual Mediums for the past 2 years, slowly replacing the brokers who claimed to know what they were talking about (but were really making it up as they went along) with people are more honest about where they get their ideas from. 🙂
In mid-trading Apple (AAPL:+1.2%) is seeing a boost after an unnamed source reports the company has hired former Wall Street Analyst Charles Anninger to head a new Financial Relations Department reporting to Peter Oppenheimer, CFO. At Guggenheim-Suisse Anninger was credited with extracting billions in profits from the companies he covered and it is expected at Apple he will help the company appease the demands of his former colleagues on the street.
Anything coming from The Financial Times related to Apple must be questioned, given Apple booted their App from the App Store when they refused to comply with the in-app purchase rules — they do have an App for android, however… Conflict of editorial interest? Ya think!
It was announced and widely reported last year Foxconn has begun a program to replace up to a million workers with robotics. By the end of 2012, the company had already deployed 30,000 new robots and said the program would accelerate. The new WSJ didn’t know that?