ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Technology

Apple's axed forecast underscores coronavirus danger to business

Supply chain interruptions and weak Chinese demand deal double whammy

A customer in Beijing tests Apple's new iPhone 11 after it went on sale last September.   © Reuters

PALO ALTO, U.S. -- Apple does "not expect to meet" its revenue forecast for the three months through March due to the coronavirus outbreak, underlining the threat the crisis poses to multinationals.

The U.S. tech giant had projected $63 billion to $67 billion in revenue for the period, up 9% to 15% from the same period a year earlier. The virus, however, has constrained both its iPhone supply chain as well as Chinese demand, the company said on Tuesday morning, Asia time.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more