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Apple warns that the coronavirus is expected to hurt quarterly revenue due to store closures in China and impacted iPhone production

Posted On: 18 Feb 2020   |   Posted By: Business Insider

Apple warns that the coronavirus is expected to hurt quarterly revenue due to store closures in China and impacted iPhone production

In a Monday press release, Apple warned that it expected to take a revenue hit due to the novel coronavirus outbreak in China.
It offered two explanations: slowed production of iPhones due to the novel coronavirus, and the closure of Apple stores in China during the outbreak.
The epicenter of the virus is thought to be Wuhan, China. Thus far, the virus has infected more than 71,000, and killed more than 1,700. The majority of the cases are concentrated in China, but it has spread to more than 25 other countries.
Apple is not the only country to be impacted by the novel coronavirus: some in the auto industry have seen their supply chains interrupted, and other tech companies like Facebook have also been impacted.
Visit Business Insider's homepage for more stories .
Apple warned on Monday that it did not expect to hit its March revenue targets due to the novel coronavirus named COVID-19.
The virus, which is thought to have originated at a wet market in Wuhan, China, has killed more than 1,700 and infected more...

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