“We are experiencing a slower return to normal conditions than we had anticipated,” Apple said in a statement. “As a result, we do not expect to meet the revenue guidance we provided for the March quarter.”Apple had forecast revenue of US$63 billion to US$67 billion for the second quarter to next month. It said that worldwide iPhone supply would be “temporarily constrained” as its manufacturing partners in China were only slowly ramping up work after being closed due to the virus. Consumer demand in the Chinese market has also been dampened after all Apple stores were shut. Mirabaud Securities Ltd global thematic group cohead Neil Campling said that Apple’s warning threatens to open the “floodgates,” as the virus affects supply chains around the world.

Source: Taipei Times February 18, 2020 15:56 UTC