The business of the Cupertino group will also be affected by the emergency coronavirus. The officialdom in a press release issued by Apple which talks about how the consequences of the epidemic are slowing down the business. The company will not be able to achieve the objectives set with the forecasts made on the quarterly in progress.
Our quarterly forecasts published on January 28, 2020 reflected the most reliable information available at the time as well as our best estimates of the rate of return to work following the end of the long holidays for the Chinese New Year.
Apple: quarterly undertone for coronavirus
The spread of COVID-19 which coincided with the Chinese New Year celebrations and which started right from an area (that of Wuhan) where some suppliers of the company operate will put a brake on the financial results. Apple has accounted for both a slowdown in production rates iPhone is a contraction in demand across the China, for easily understandable reasons. Just in recent days, some stores have been reopened in the area.
Work has resumed across the country, but we are experiencing a slower return to normal than expected. As a consequence, we do not believe that we can meet the forecast provided for the quarter of March.
The priority for the bitten apple remains, however, that of supporting the authorities and those engaged in the battle against the coronavirus, also by participating directly through a series of donations.
While the public health response to COVID-19 continues, our thoughts are addressed to the communities and people most affected by the disease as well as to those who are working tirelessly to contain the spread and the risks related to the disease. Apple is more than doubling the previously announced donations to support this historic collective effort.
Outside China, however, no shocks are expected regarding the demand for products and services.