Feb 17, 2020
Apple warns coronavirus will hurt iPhones supplies
Apple has warned that disruption in China from the coronavirus will mean revenues falling short of forecasts. "We do not expect to meet the revenue guidance we provided for the March quarter," the company said in a statement, adding that worldwide iPhone supply would be "Temporarily constrained" and demand in China had been affected. With most stores in China either closed or operating at reduced hours, sales of Apple products would be lower, the company said. "All of our stores in China and many of our partner stores have been closed," it added. Last week, the heavy equipment manufacturer JCB said it was cutting production in the UK because of a shortage of components from China.
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