Apple said Monday that due to the coronavirus outbreak, it is cutting its sales expectations for the current quarter.
Last month, Apple projected record revenue for this quarter of between $63 billion and $67 billion, The Wall Street Journal reports. The coronavirus outbreak originated in Wuhan, China, and stores and factories across the country were shuttered to try and contain the virus. Wuhan is home to two of Apple's top 200 suppliers.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Apple is the first major U.S. company to outline ways the coronavirus has affected business, and it expects to share more information on revenue during its April earnings call, the Journal reports.
-
Starbucks workers are planning their ‘biggest strike’ everThe Explainer The union said 92% of its members voted to strike
-
‘These wouldn’t be playgrounds for billionaires’Instant Opinion Opinion, comment and editorials of the day
-
The 5 best nuclear war movies of all timeThe Week Recommends ‘A House of Dynamite’ reanimates a dormant cinematic genre for our new age of atomic insecurity
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
