crazyfirecrotch (crazyfirecrotch) wrote in ohnotheydidnt,
crazyfirecrotch
crazyfirecrotch
ohnotheydidnt

Apple will miss quarterly earnings estimates due to coronavirus



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.

source= https://twitter.com/cnnbrk/status/1229526621834694658
Tags: apple / iphone
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