Apple's operations affected by coronavirus in China
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During the quarterly earnings call yesterday, Apple CEO Tim Cook revealed that coronavirus situation in China might affect Apple’s operations. Since some suppliers are from Wuhan region, Apple is already working on mitigation plans to make up any expected production loss.
In addition to the iPhone production issues, coronavirus situation also affects Apple’s sales since less people are visiting Apple’s retail stores. In fact, Apple closed a retail store in Wuhan region and many of the stores that remain open have also reduced operating hours.
“The situation is emerging, and we’re still gathering lots of data points and monitoring it very closely. We’re donating to groups that are working to contain the outbreak. We are working closely with our Apple team members and partners in the affected areas, and our thoughts are with all of those affected across the region,” said Cook.
Considering this volatile situation, Apple provided a revenue guidance of $63 billion to $67 billion for the next quarter.
