Apple is going to miss quarterly guidance and iPhe sales estimates, due to coravirus

Apple is in the process of revising its quarterly downward trends not ly as a result of a decrease in sales in China due to the coravirus, but also because of producti problems in countries that are ly beginning to be overcome.

Apple issued a statement Mday afterno, saying that he does not expect to meet the guidance provided for the quarter of the year.

As the public health respse to COVID-19 ctinues, our thoughts remain with the communities and individuals most severely affected by the disease, and with those who are working around the clock to ctain its sp and to treat the sick. Apple is more than doubling our previously announced dati to support the historical value of this public health acti.

Our quarterly guidance was issued January 28, 2020 reflects the best informati available at the time, as well as our best estimates, the pace of return to work following the end of the extended Chinese New Year holiday February 10. The work begins to resume in the country, but we are seeing a slow return to normal cditis as we had anticipated. Accordingly, we do not expect to meet the revenue guidance that we provided for the March quarter, due to two main factors.

The first is that the iPhe in the world supply will be temporarily restricted. While our iPhe manufacturing partner sites are located outside of the province of Hubei, and, if all of these facilities have re-opened — they are currently increasing more slowly than we had anticipated. The health and well-being of each pers that ctributes to making these products is our top priority, and we work closely with our suppliers and experts in public health, as this ramp ctinues. These iPhe supply shortages temporarily affect revenues in the world.

The secd is that the demand for our products in China has been affected. All of our stores in China, and many of our partner stores have been closed. In additi, the stores that are open and functiing, to reduce the hours of work and with very low customer traffic. We are gradually reopening our retail stores, and will ctinue to do so as gradually and safely as we can. Our corporate offices and ctact centres in China are open, and our line stores have remained open throughout.

Outside China, demand of the customer through our products and services, categories of had been strg to-date and in line with our expectatis.

The situati is evolving, and we will provide more informati during our earnings call in April. Apple is fundamentally strg, and this disrupti of our activities is ly temporary. Our first priority — now and always — the health and safety of our employees, supply chain partners, customers and the communities in which we operate. Our deep gratitude is with those the frt line in the face of this public health emergency.

Apple’s guidance for the secd fiscal quarter of the year 2020

Apple has been the revenue forecast for the secd quarter of the fiscal year between $ 85.5 billi and $89.5 billi for the…

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