Apple Warns of Lower Revenues

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CBJ — Apple Inc. has announced it will not meet its expected revenue targets for the March quarter due to the coronavirus outbreak and the tremendous impact it is having on China.

A sizable portion of Apple’s projections were based on a high volume of sales in China, but those aspirations are now gone.

Apple productions facilities in China have reopened, but are ramping up slower than expected with demand still waning as people are still focused primarily on the outbreak.

The company had forecast anywhere from $63 billion to $67 billion US in revenue. It’s not clear if Apple has revised numbers that it is now targeting. More information on numbers are not likely to come until its next earnings call in April.

The disruptions, primarily all in Asia, follow a strong December quarter for iPhone sales, which were up for the first time in a year.

@CanBizJournal

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