Apple warns it will take double hit from outbreak

BEIJING, CHINA - FEBRUARY 18: Employees wear face masks at Apple Store in Beijing on February 17, 2020 in Beijing, China. Fearing a virus outbreak, Apple closed all stores in China on February 1.The number of cases of a deadly new coronavirus rose to more than 70,000 in mainland China, and as of today, 1,870 patients have died. (Photo by Lintao Zhang/Getty Images)

Apple warned investors on Monday that the ongoing coronavirus outbreak is hurting its business more than previously expected by limiting how many devices it can both make and sell in China.

In an investor update, Apple said it no longer expects to meet the revenue guidance it provided last month for the upcoming quarter. “Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated,” the company said.

Read the whole story here.

Source: CNN News


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