Apple warns China virus will cut iPhone production, sales

Your Money Matters
KELO Apple logo

Apple Inc. is warning investors that it won’t meet its second-quarter financial guidance because the viral outbreak in China has cut production of iPhones.

The Cupertino, California-based company says all of its iPhone manufacturing facilities are outside Hubei province, and all have been reopened, but production is ramping up slowly. The company says demand for iPhones is also down in China because Apple’s retail stores are closed or operating with reduced hours.

Apple says the situation is evolving and it will provide more information on its next earnings call in April.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Continuing The Conversation
See Full Weather Forecast

Trending Stories

Don't Miss!

More Don't Miss