Apple has tempered its expectation for second-quarter revenue, citing the ongoing impact of the coronavirus crisis in China.
The iPhone maker said that product supplies will be temporarily affected due to the outbreak. China market demand would also suffer due to the virus, as indicated by the company.
Apple’s China factories are resuming work slower than expected, as indicated by the company, and most of its 42 stores in the country are dormant for now.
Apple, therefore, does not expect to meet the revenue guidance that it issued for the March quarter. The company indicated that while the situation is evolving, it will provide more information during its next earnings call in April.
"Apple is fundamentally strong, and this disruption to our business is only temporary. Our first priority - now and always - is the health and safety of our employees, supply chain partners, customers and the communities in which we operate," Apple said in a statement. "Our profound gratitude is with those on the front lines of confronting this public health emergency."