Coronavirus Threat: Apple Hints At Effect On Revenue

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Beijing: Apple issued a warning to investors on Monday that the Coronavirus outbreak has caused more disruption to its business in China.

This has pushed apple to scale back its revenue guidance for the coming quarter.

Apple said Monday that it does not expect to meet its quarterly revenue forecast because of lower iPhone supply globally and lower Chinese demand as a result of the coronavirus outbreak.

The company said it provided a wider range than usual in late January, citing the uncertainty around the coronavirus outbreak.

Apple has extensive manufacturing operations in China, where nearly half the country is living under some form of travel restrictions.

While the worldwide market will be affected by the slowing in iPhone production, Apple said that the strongest impact on revenues will be in China.

This is the second time in the last 13 months that Apple has had to cut its guidance due to concerns in China. In January 2019, Apple was forced to slash revenue guidance for its fiscal first quarter of 2019 due to weak iPhone sales in China.

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