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Apple said Monday it does not expect to meet its second-quarter forecast for revenue. The company cited global supply constraints for iPhones and lower Chinese demand as a result of the coronavirus outbreak. Apple said in late January that it expected revenue of $63 billion to $67 billion in its fiscal second quarter. Apple says will not meet revenue guidance for March quarter due to coronavirus outbreak
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Apple Inc said on Monday that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China.
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The company said that despite the fact that its productions facilities in China have re-opened, they are ramping up slower than expected.
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The company had forecast $63 billion to $67 billion in revenue for the quarter ending in March, ahead of estimates of $62.4 billion.
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