The Coronavirus Imperils the Launch of Apple's Cheaper iPhone
On Monday, Apple (NASDAQ: AAPL) confirmed what analysts already feared: The novel coronavirus outbreak will cause second-quarter revenue to come up short of guidance because iPhone supplies have been interrupted while demand in China has dried up.
Three weeks ago, Apple said it expected net sales between $63 billion and $67 billion for the quarter, and noted that the broad $4 billion range reflected uncertainty about the effects the virus would have. But on Monday, it updated the outlook to say even that was too ambitious.
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Source Fool.com