Coronavirus Could Dent Apple's iPhone Sales, but There Is a Silver Lining
Apple (NASDAQ: AAPL) looked all set to step on the gas in 2020, as iPhone sales were expected to grow after years of stagnation. But the impact of COVID-19 is likely to dent that forecast and produce another year of mediocre iPhone sales.
After all, the smartphone giant has already slashed its fiscal second-quarter revenue guidance because it has been forced to shutter stores across the globe to combat the novel coronavirus outbreak. But the economic fallout of the pandemic could be far worse for Apple. Consumers might shy away from upgrading to a new device considering that the International Monetary Fund (IMF) has declared that a recession is already underway.
Sales of the iPhone were expected to jump in 2020 thanks to the launch of 5G mobile networks and Apple's competitive pricing strategy. But supply-chain rumors indicate that a steep fall in sales might be in the cards.
Source Fool.com
