Maybe 2019 was practice for Apple, as it was now used to releasing new products via a press release. That's what it had to do in March 2020 as the whole world self-isolated, and Apple Stores closed their doors.
Apple has seen demand in China largely recover from coronavirus-related slumps earlier in the year, Apple CEO Tim Cook said on Thursday.
Even as the China supply chain lurches to life after a shutdown for most of the first quarter, the global smartphone market is expected to post a record contraction in the second quarter because of ongoing coronavirus impacts.
Apple's sales of iPhones in the first calendar quarter of 2020 were down by only 1% in a China market that contracted by 22% year-over-year, as buyers rapidly shifted to online orders and enthusiastically bought iPhone 11 models.
WeChat has become so ubiquitous in China that the iPhone is increasingly measured by how well it runs this one app — and it's now millions of "mini-programs" that are supplanting the App Store.
Figures from Chinese authorities indicate Apple sold some 2.5 million iPhones in greater China during March, a considerable uptick from Coronavirus-driven lows set the month prior.
Morgan Stanley said Friday it is reducing expectations for Apple through fiscal 2021 to better align with the bank's macro view that GDP growth will take a greater hit than previously expected, due largely to a prolonged consumer recovery.
Apple CEO Tim Cook chose to take a direct and personal approach when facing potential billion-dollar tariffs on parts and finished goods imported from China.
Two major financial papers that usually blow out false news about Apple's supply chain in lockstep have suddenly diverged in their imagined tales of how the world's best capitalized and most proficient and competent tech company might be somewhat challenged by the economic disaster now killing thousands of people.
As the world struggles to contain the COVID-19 pandemic, Apple suppliers are reportedly expecting a significant decrease in immediate orders due to weakened demand.
Just a few months ago, Apple was gearing up to climb onto the gigantic shoulders of its blockbuster iPhone 11 launch to deliver another massive annual upgrade to its Macs, iPads, audio devices, wearables, and the upcoming new iPhone 12. Then the world ground to a halt in an unprecedented way. Here's how Apple can make the most positive impact possible in this year of social distancing.
The Apple Watch is no longer being impacted by a tariff applied by the U.S. government on goods imported from China as part of its trade war, with the U.S. Trade Representative approving the exclusion of the wearable device from the financial measures.
Apple is set to reopen all 42 Apple Stores in China after a month-long closure due to fallout from the coronavirus pandemic, though nearly every outlet in the region will operate under reduced hours for the foreseeable future.
Apple shipped fewer than 500,000 iPhone units in February due to coronavirus-related production issues, UBS analyst Timothy Arcuri estimates, forcing an Apple stock price target cut to $355.
While the Chinese iPhone sales numbers for the month of February are miserable because of the coronavirus, JP Morgan's Samik Chatterjee is sticking with a $350 AAPL for the long-term.
Apple's sales of iPhones are considerably down in China for the last quarter, according to Daniel Ives from Wedbush, but Apple's ability to bring the supply chain back to normal is of bigger importance to investors.
The impact of the coronavirus outbreak has resulted in Apple selling 494,000 iPhones in China in February, around 60% fewer than in the same month in 2019.
The coronavirus outbreak has made an impact on Foxconn's finances with the iPhone assembly partner enduring its biggest year-on-year drop in revenue for a month in a seven-year period due to the virus affecting its production pipeline.
Apple is reportedly warning retail employees and technical support staff that replacement iPhones are in short supply, one of the first consumer-facing signs that COVID-19 is impacting the company's supply chain.
After years of false reporting that demonstrated a complete lack of understanding of Apple's supply chain or even the value of its operational expertise, Tripp Mickle of the Wall Street Journal is back, this time with a story about how foolish Apple was to rely on Chinese manufacturing and how hopelessly desperate its plight now is, due to the coronavirus outbreak. He's wrong, here's why.
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William Gallagher
Mike Peterson
Mike Wuerthele
Daniel Eran Dilger
Amber Neely
Mikey Campbell
Malcolm Owen
