Apple is taking a hit from the coronavirus.
The tech giant said it will not meet its quarterly revenue forecast due to iPhone supply problems and falling demand in China because of the outbreak. Apple makes most of its iPhones in China. All of its manufacturing plants there have reopened but the company still expects supply shortages as “business as usual” won’t happen for a while.
Last month, Apple projected net sales of up to 67-billion dollars for its fiscal second quarter. Nearly half of China’s residents are under some type of travel restrictions.
Source:CNN