When Apple management announced that the iPhone 7 was sold out, the stock soared about 14%. That’s an increase in market value of more than $80 billion. I call that a windfall from a shortfall.I was skeptical. I consider the reception of iPhone 7 lukewarm, certainly not enough for demand to soar above expectations.
However, there probably is a real shortage at the moment. But instead of being caused by big demand, couldn’t it be due to a lack of supply?
I ask, what would cause a lack of supply? Certainly, Apple made sure that sufficient phones were ordered from the manufacturers. So I considered our recent stories on the bankruptcy of one of the world’s largest container shippers, Hajin Shipping (a Korean company). Dozens of their ships have been stranded around the world, many on the high seas, because going to port might have caused them to be seized for lack of payment for fuel, supplies, tug ships, etc.
It’s estimated that these ships are carrying about $14 billion of supplies, including electronic items. One large ship, the Greece, was stranded off of California for a week. It’s a giant 1,145 ft. container carrier. It just started unloading recently at the port of Long Beach.
I ask, isn’t it possible that the surprising announcement that Apple ran out of iPhones to sell is due to delayed deliveries because of the Hajin bankruptcy?
Obviously, Apple AAPL -0.64% management would know. But no one seems to have asked. Given their past announcement, they once again found a way to make lemonade out of the lemons. Letting consumers and investors think there was a huge demand, resulting in being “sold out,” really paid off…so far.
VIA - forbes.com
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