- Shares of Apple Inc fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower, after the iPhone maker warned of lower sales in the current quarter acknowledging that the coronavirus outbreak was pressuring its supply chain.
However, several Wall Street brokerages dubbed Apple’s update forecast as a “near-term headwind,” saying the company is performing strongly outside China and the launch of 5G phones later this year would further boost sales. In late January, Apple had forecast $63 billion to $67 billion in revenue for the quarter ending in March. It did not provide a new revenue estimate or a profit forecast on Monday.
One of the primary iPhone manufacturing facilities in China is operating at a 25% factory utilization rate as many workers remain absent, Cowen analysts estimated.
Source: News Formal (newsformal.com)
Follow the Coronavirus Trends source: CDC, WHO chart:
This is not the time Apple! People are dying
Now that is something to be sneezed at 🤣
Dont worry. The federalreserve pumped 90 billion into markets today alone.
needs to drop at least 50% then maybe they are one track for a real valuation of their products.
Dont worry Apple child labor will restart after all this blows over
Good!
What a shame.
Never have I ever zip lined naked .. and Im ok with that
Apple the most corrupt and unethical company on earth.
Gravity
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