Coronavirus News
Coronavirus Coronavirus hits China’s tech manufacturing production across the board – Axios
Apple’s coronavirus warning foreshadows broader threat for techIllustration: Aïda Amer/AxiosA warning from Apple on Monday that it would not meet its quarterly earnings forecast shows how quickly the coronavirus is creating real problems for the tech industry. Why it matters: The virus is still in what could be the early stages and is already stressing…
Coronavirus
Apple’s coronavirus warning foreshadows broader threat for tech
Illustration: Aïda Amer/Axios
A warning from Apple on Monday that it would not meet its quarterly earnings forecast shows how quickly the coronavirus is creating real problems for the tech industry.
Why it matters: The virus is still in what could be the early stages and is already stressing supply chains and causing conference cancellations.
Apple will miss quarterly earnings estimates due to coronavirus
Apple CEO Tim Cook
Apple issued a rare earnings warning on Monday, saying it would not meet quarterly revenue expectations due to the impact of the coronavirus, which will limit iPhone production and limit product demand in China.
Why it matters: Lots of companies rely on China for production, but unlike most U.S. tech companies, Apple also gets a significant chunk of its revenue from sales in China.
Economists warn coronavirus risk far worse than realized
Photo: Anthony Wallace/AFP via Getty Images
Worries are growing that the economic impact from the novel coronavirus outbreak will be worse than expected and that markets are being too complacent in factoring it in as a risk.
What’s happening: The number of confirmed cases has already far outpaced expectations and even those reports are being viewed through a lens of suspicion that the Chinese government is underreporting the figures.
Subscribe to the newsletter news
We hate SPAM and promise to keep your email address safe
Top Stories
