As we expected, Apple has announced a profit warning for the second quarter of 2020. According to the report, the company has revised its own sales forecast due to the coronavirus epidemic.
In a press release published today, Apple has revised its own sales forecast for the current quarter. The Notice:
Our quarterly guidance issued on January 28, 2020 reflected the best information available at the time as well as our best estimates of the pace of return to work following the end of the extended Chinese New Year holiday on February 10. Work is resuming across the country but we are experiencing a slower return to normal conditions than we had expected. As a result, we do not expect to be able to meet the revenue guidance we provided for the March quarter due to two main factors.
The two main factors include limited iPhone supplies and low demand in China itself.
Concrete sales forecast follows
According to Apple, all manufacturing partners outside of Hubei Province have resumed work, but production is starting up more slowly than expected. On the subject of demand in China, Apple stated that store closures and limited opening hours have significantly reduced customer traffic. However, a specific sales forecast was not provided. Apple said it is currently monitoring the situation. Further information on the sales forecast for the second quarter is to be provided. In the wake of this profit warning, Apple announced that the announced donations in the fight against the coronavirus will be doubled. The company originally forecast sales of between 63 and 67 billion US dollars in the second quarter. How high the revenue might actually be remains to be seen for now. (Photo by digitalista / Bigstockphoto)
