Apple warns sales are not meeting targets due to coronavirus effects

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(Reuters) – Apple Inc (AAPL.O) warned on Monday it would be difficult to meet the quarterly sales guidance that had just been set up just three weeks before the world's most valuable tech company had become one of the biggest casualties. of the Chinese coronavirus epidemic.

FILE PHOTO: Apple Inc. logo is seen hanging at the entrance of the Apple store on Fifth Avenue in Manhattan, New York, USA, October 16, 2019. REUTERS / Mike Segar / File Photo

The rapidly spreading virus killed nearly 1,900 people in China and weakened about 72,000, detained millions of people at their homes, disrupted supply chains and delayed the reopening of factories after the Tet holiday. Long lasting lunar eruption

Production facilities in China producing Apple iPhones and other electronic devices have begun to reopen, but they are accelerating slower than expected, Apple said. That means fewer iPhones are available for sale worldwide, making Apple one of the largest Western companies vulnerable to the outbreak.

Some retail stores in the country are still closed or operating at reduced hours, which will affect sales this quarter. China accounted for 15% of Apple's Apple revenue, or $ 13.6 billion in the previous quarter and provided 18% of revenue in the previous quarter.

By the end of January, Apple had forecast revenues of between $ 63 billion and $ 67 billion for the quarter ending in March, which is reportedly wider than usual due to the uncertainty created by the virus. It does not provide new revenue estimates nor does it provide …

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