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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.

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