Apple to miss revenue forecast as iPhone supply hit by COVID-19, photo AFP The COVID-19 death toll now exceeds 1,800 in China, where it has infected more than 72,000 after emerging in the central province of Hubei in December. The virus has sparked global economic jitters, with travel bans and mass quarantines inside China forcing factories to suspend operations and shops to close. Apple, which depends on components from Chinese suppliers and has a big market in China, has been hammered on both fronts. “We are experiencing a slower return to normal conditions than we had anticipated,” Apple said in a statement. “As a result, we do not expect to meet the revenue guidance we provided for the March quarter.” Apple had forecast revenue of $63 billion to $67 billion for the second quarter to March. The US tech giant did not disclose how much it expected the outbreak to shave off its revenues. But it said that worldwide iPhone supply would be “temporarily constrained” as its manufacturing partners in China were only slowly ramping up work after being closed because of the travel restrictions. Consumer demand in the crucial Chinese market had also been dampened after all Apple stores… Read full this story
- Apple Hits Peak Capitalism In Bizarre Streaming Service Announcement
- Apple drops below trillion-dollar value on disappointing sales figures
- It’s Time For Apple To Flip The Switch On TV
- The Best Calendar App for iPhone
- 3 Ways Google’s Majel May Out-Chat Apple’s Siri (And 1 Big Way It Could Remain Speechless)
- With the Apple Card, Goldman Sachs is getting deeper into the subprime lending business
- Apple may have quietly rolled out a fix for its Homepod after a software glitch that rendered the speakers useless
- Apple's iTunes Division Touts Record $8.5B Revenue
- Apple's Phone Sales Decrease But Tim Cook Declares iPhone X a Hit
- As Apple Readies Big TV Launch, Hollywood Powerbrokers Are Going In "Blind"
Apple to miss revenue forecast as iPhone supply hit by COVID-19 have 309 words, post on www.vir.com.vn at May 9, 2020. This is cached page on Business Breaking News. If you want remove this page, please contact us.