Apple says the coronavirus outbreak is limiting how many devices it can make and sell in China, and that it doesn't expect to meet revenue projections it provided last month https://t.co/4hzjC16xO1 pic.twitter.com/g9ugSxJfOI— CNN Breaking News (@cnnbrk) February 17, 2020
Lots of companies rely on China for production, but unlike most U.S. tech companies, Apple also gets a significant chunk of its revenue from sales in China. Apple is not expecting to meet second-quarter financial guidance because production has slowed or been halted in China due to the Corona outbreak. “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 in a statement on Monday. Apple generates about 15% of its revenue from China, and many of its products are manufactured there. So far 2,000 deaths are caused from the virus and a total of 75, 000 cases of people have been reported to be infected.