Coronavirus Hits Apple’s Q2 Revenue

Apple's CEO, Tim Cook, announces that the second-quarter revenue will be negatively affected by the dreaded epidemic coronavirus.

According to him, the Coronavirus epidemic will not only affect Apple’s second-quarter revenue but will affect iPhone supplies judging by the economic cost of the disease.

In a statement, Apple explained that the economic difference in productivity since the outbreak of the virus saying; “We are experiencing a slower return to normal conditions than we had anticipated,”

“As a result, we do not expect to meet the revenue guidance we provided for the March quarter,” Apple said in the statement.

Before the outbreak, Apple had forecasted the company's revenue of $63 billion to $67 billion for the second quarter to March, but under the new order of things, the company might not achieve that target.

“Stores that are (now) open have been operating at reduced hours and with very low customer traffic,” the company said.

“We are gradually reopening our retail stores and will continue to do so as steadily and safely as we can," Apple said in the statement.

The COVID-19 virus death toll now exceeds 1,800 in China and has sparked global economic jitters, travel bans and the cancellation of high-profile sporting and cultural events.

Agencies like the International Monetary Fund, the World Health Organisation, and ECOWAS are currently working to see to the end of the outbreak.