Apple Reports iPhone Delivery Restrictions due to Coronavirus
“Our quarterly forecast, published on January 28, 2020, reflected the information that was available at that time and the optimal estimate of the rate of return to the usual work schedule, taking into account the end of the holidays on the occasion of the Chinese New Year on February 10”, the company noted. The press service said that Apple began to resume work in China, but the return to normal is slower than expected. “As a result, we, in view of the two main factors, don't expect that we will be able to fulfill the profit forecast for the quarter ending in March”, Apple said.
The company explained that one of the main factors is the limitation of shipments of iPhone smartphones worldwide, and the second is a decrease in demand for Apple products in China due to coronavirus. “Today, outside of China, consumer demand for all categories of our products and services has been high and in line with our expectations”, concluded the corporation.
In a report for the first quarter of fiscal year 2020, which expired on December 28, 2019, the company predicted that its revenue in the second quarter will be from $ 63 billion to 67 billion, and operating expenses will range from $ 9.6 billion to 9.7 billion.