Apple Warns Of iPhone Shortages Due To Coronavirus

APPLE WARNS OF 'IPHONE SUPPLY SHORTAGES' BECAUSE OF NOVEL CORONAVIRUS

(CNN) – The novel coronavirus isn’t just affecting people’s health.

It’s affecting the health of businesses all over the world.

In fact, Apple says the outbreak it’s hurting business more than they even expected because it’s limiting how many iPhones it can make and sell in China; which is where most of Apple’s manufacturing happens and of course has been hardest hit by the outbreak.

Apple temporary closed all of its stores in China, but even though they’re slowly reopening bouncing back will take some time.

The company reached out to its investors on Monday saying, “These iPhone supply shortages will temporarily affect revenues worldwide.”

Warning it no longer expects to meet the revenue guidance it provided last month for the upcoming March quarter.

Categories: Business