FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo
February 17, 2020
(Reuters) – Apple Inc said on Monday that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China.
The company said that despite the fact that its productions facilities in China have re-opened, they are ramping up slower than expected.
The company had forecast $63 billion to $67 billion in revenue for the quarter ending in March, ahead of estimates of $62.4 billion.
(Reporting by Neha Malara in Bengaluru; Editing by Sonya Hepinstall)
