Apple revenue depleted due to Coronavirus

Apple posted an unexpected investor update last week, stating they expect revenue to be affected by the Coronavirus.

This isn’t the first time we have heard that companies will be directly or indirectly effected by the Coronavirus, Jaguar Land Rover have been shipping car parts in suitcases.

Apple has said they are not expecting to reach their own revenue guidance for the second quarter, due to the impact that the virus will have.

“worldwide iPhone supply will be temporarily constrained.” Stores closing and reduced retail traffic in china are also expected to have an effect.

All of the Apple manufacturing partners are now back up and running, however, “ramping up more slowly than we had anticipated,” meaning fewer iPhones will role off the production lines.

The drawback for Apple will be, “These iPhone supply shortages will temporarily affect revenues worldwide.”

We were expecting a newer iPhone SE to be introduced this year, however this new announcement may cause delays to the release.

You may remember that Apple broke records this Christmas in sales, so there couldn’t have been a worse way for 2020 to kick off.

Apple has said they will be donating toward the Coronavirus cause.

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