The Coronavirus Covid-19 has affected both sales and production for Apple. The company says it will not meet next month’s earnings at predictions. Apple became the biggest company to flag damage to its business from the coronavirus. On last monday, Apple warned of an assault on two fronts supply, the problem with factories in China still slow to reopen and it sees sales of its devices falling off too many of its stores in China are still closed or have limited hours.
Now Apple is cutting expectations for sales for this quarter a month ago, as the virus began to take hold Apple thought sales would stay relatively robust some sixty-three ($63B) to sixty seven billion dollars ($67B).
Last Monday the company didn’t offer up a new estimate to account for the virus’s impact with lost production and weakening demand in China from the virus outbreak that means it all adds up to fewer iPhones for sale around the world Apple’s stock is expected to face a knee-jerk reaction.
On Tuesday, analysts say the virus may slash demand for smartphones by half in the first quarter in China, the world’s biggest market for the devices, meanwhile, the rival Samsung stands to reap the rewards of a decade-long bet on making their low-cost smartphones in Vietnam.
