Mon 17 Feb 2020 22.42 GMTLast modified on Tue 18 Feb 2020 00.36 GMT
Apple has warned of global “iPhone supply shortages” resulting from its Chinese factories being shut because of the coronavirus outbreak. The Californian company told investors on Monday night it would fail to meet its quarterly revenue target of $63-67bn because of the “temporarily constrained” supply of iPhones and a dramatic drop in Chinese shoppers during the virus crisis. Apple did not provide a new forecast for its second-quarter revenue.
Apple makes most iPhones and other products in China. The spread of coronavirus has caused the company to temporarily halt production and close retail stores in China. Some Apple retail stores reopened in China with reduced hours last week.
