Apple says will not meet revenue forecasts due to China virus

  • 📰 trtworld
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

United States Headlines News

United States Latest News,United States Headlines

US tech giant Apple says won't meet revenue target as coronavirus hits both production and demand in China

People wearing protective masks are seen in an Apple Store, as China is hit by an outbreak of the new coronavirus, in Shanghai, China, January 29, 2020.

"We do not expect to meet the revenue guidance we provided for the March quarter," it said in a statement, adding that worldwide iPhone supply would be "temporarily constrained" and demand in China had been affected. Elsewhere, hundreds more have been infected and the virus has sparked panic buying, economic jitters as well as the cancellation of high-profile sporting and cultural events.

Apple said that "while our iPhone manufacturing partner sites are located outside the Hubei province — and while all of these facilities have reopened — they are ramping up more slowly than we had anticipated."Additionally, stores that are open have been operating at reduced hours and with very low customer traffic. We are gradually reopening our retail stores and will continue to do so as steadily and safely as we can.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Not surprising. I don’t know who President Obama asked the FBI to investigate on behalf of George Soros, but the whispers are it was Jeff Bezos. Which would explain The Washington Post’s unbelievably insane ‘eulogy’ for Baghdadi and their complete dedication to serving the DNC

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 101. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple cuts revenue guidance due to production delays, weak demand in China because of coronavirusApple said in late January that it expected to report net sales between $63 billion to $67 billion in its fiscal second quarter. Last time it warned it doubled..... $700 anyone? $AAPL That was expected, but not discounted in market value.
Source: CNBC - 🏆 12. / 72 Read more »

U.S. stock futures retreat, Asia dips after Apple warns on virus impactU.S. stock futures slipped from record levels on Tuesday after Apple Inc said it... apple warns ? We've reached such dizzy heights... jeez This will turn out to be expected. With the juice coming from China , USA and rest of the world. Markets will look past it. Expect more guidance that looks like this. Like fingers crossed re another heart palpitating pedal to the floor Tesla ride when the market opens tomorrow. GigaBerlin porschetaykan
Source: Reuters - 🏆 2. / 97 Read more »

Apple Warns of Sales Shortfall for March Quarter, Blaming Coronavirus OutbreakApple said the spread of the coronavirus in China has disrupted iPhone manufacturing and driven down sales in the country. As a result, the tech giant said it now expects to undershoot the revenue … Oh we need to open a food bank for Apple But obviously that's all they care about bruh no one cares about your sales PEOPLE ARE DYING
Source: Variety - 🏆 108. / 63 Read more »

Apple warns of 'iPhone supply shortages' because of coronavirusApple warned investors on Monday that the ongoing coronavirus outbreak is hurting its business more than previously expected by limiting how many devices it can make and sell in China. Damn the company that made $90 billion last quarter a bit less money for a little while. I’m so sad. I guess only one thing can save us from the iPhone 15
Source: cnnbrk - 🏆 393. / 55 Read more »

Asia markets set to trade mixed after Apple issues revenue warning on coronavirus impactApple suppliers in Asia will be watched, as the tech giant warned it may not meet its quarterly revenue forecast because of lower iPhone supply globally and lower Chinese demand as a result of the coronavirus outbreak. LaMonicaBuzz I do not understand why Tim and Apple have to warn about impact of virus. Do they have to or can they wait until next Qtr conf call? Oh man!! Millions instead of billions? Oh the humanity So, Apple is demanding trade to continue which means infection could spread globally much quicker. Yeah, just another reason not to buy Apple
Source: CNBC - 🏆 12. / 72 Read more »

Apple says coronavirus will keep it from meeting revenue expectationsThe company said its manufacturing sites in China are ramping up more slowly than anticipated and the supply of iPhones is constrained. Start making 😷 masks. Maybe Apple should start making their products in the U.S.!!!! If someone who handled or helped build the phone was infected... can it be passed on to the person who buys/handles the phone? Scary thought. Glad I don't buy Apple products.
Source: NBCNews - 🏆 10. / 86 Read more »