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Coronavirus: Apple Predicts Falling Short Of 2020 Q2 Revenue Projection

Henri Allotey

Feb. 18, 2020

Apple Inc has expressed fears about its probable inability to meet its revenue target for the second quarter of the year 2020.
Information available shows that it set its estimated quarterly revenue between $63 and $67 billion.
However, the coronavirus, which has been prevalent in China since December 2020, has reportedly affected Apple’s business dealings in the country.
Apple earlier reported a revenue level of $91.8 billion in the first quarter. Per a report by venturebeat.com, the company has warned investors that manufacturing of iPhones and overall Apple sales in China will be affected. It added that its own as well as “partner retail locations in China have been either closed or operating in limited fashion, including “very low customer traffic.”
 Apple’s chief executive officer, Tim Cook, and chief finance officer, Luca Maestri, have described the upcoming quarter’s expected revenue range as unusually wide to take the coronavirus’ potential impact into account, but hinted that the health situation might have deeper impacts.
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