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Home Technology

Apple predicts a drop in revenue ahead of Corona Virus.

The Global Economics by The Global Economics
March 11, 2020
in Technology, Trending
Reading Time: 1 min read
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Tech Giant Apple is concerned with the dip in sales due to the Coronavirus attack in China. The company shared in a statement that ‘slow return to normal condition is already experienced’ from the market. Since China holds one of the biggest markets of the iPhone, the virus has affected store hours. Sale of the Apple products has dropped due to a reduction in store time or stores being closed due to lack of manpower. Though most manufacturing partners are located outside Hubei province, Apple said ‘they are ramping slower than the expected rate’.

Future Concern

Market analysts are forecasting a further drop in iPhone demand due to the corona pandemic. The magnitude of the impact will make Apple miss revenue guidance through mid-February. Though the registered case of virus attack outside its epicentre area is decreasing, it will take time to bring back the workforce to the factories and stores.

The company experts have forecasted a drop in Global stock. The iPhone supply on a global basis has been constrained due to the epidemic. Though the situation is slowly being controlled, a lasting effect will be experienced in the mid-season revenue of Apple Inc.

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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