As investors ride the "roller coaster" that is Apple's coronavirus-impacted stock price, Daniel Ives from Wedbush sees a firm core business, and outstanding long-term prospects for Apple and the 5G "iPhone 12."
Apple supplier Foxconn says that it will return to regular operation by the end of the month after the closures caused by the coronavirus, and also that over half of its usual seasonal workers have already returned to work.
Apple's stock price surged 9.3% on Monday in the midst of a broader Wall Street rebound and an upgraded analyst rating.
The COVID-19 outbreak has made it clear just how dependent Apple is on its supply chain in China, despite efforts to diversify where its products are made.
Apple hasn't forgotten its employees in China isolated because of the coronavirus, and is sending them care packages containing food, medical supplies, and an iPad.
Media-induced panic related to the coronavirus outbreak has caused stocks to crash in value, with Apple's share price dropping to levels not seen since early December, back before it was appreciated how well Apple's iPhone 11, wearables, services, and other offerings had performed during holiday sales. That drop affords Apple a rare opportunity to snatch up billions of its shares at a discount nobody could have otherwise imagined possible.
The ongoing coronavirus outbreak in China has led to popular game "Plague Inc" to be pulled from the country's App Store after China decided it was illegal — despite having been available for eight years.
In an excerpt from an interview that will Air on Friday, Apple CEO Tim Cook says that he is hopeful that coronavirus is starting to get under control in China, and factories are coming back online.
As uncertainty swirls about the coronavirus impact technology industry-wide, industry stalwart Microsoft has issued an earnings warning, and Apple stock price continues to plummet.
Developers are concerned over Apple's sudden decision to start checking game licenses issued by the Chinese government for titles with in-app purchases, as the new requirement may force many games to be delisted in the regional App Store due to not having the authorization.
An Apple shareholder proposal critical of Chinese App Store policies failed to gain approval on Wednesday, but experts say a relatively high show of support from investors could prompt the tech giant to respond.
The idea Apple was failing to establish itself in India — and outsold by Samsung and Chinese brands — has been overturned by new research showing that iPhone ate up over 75% of all premium smartphone sales in the subcontinent in the fourth quarter, while also posting strong iPad, Apple Watch, and AirPod sales. Along with "double-digit" growth, Apple is also expanding its production in the subcontinent for audiences globally.
Apple has for the second time declined to attend a U.S. congressional hearing that would have scrutinized its relationship with China as part of a larger investigation into tech privacy and security.
Apple is slowly reopening its fleet of Chinese retail stores after the new coronavirus outbreak forced closures of all outlets in the region earlier in February.
The ongoing coronavirus epidemic is seemingly helping to grow tablet sales in China, with the need for remote working and education to avoid possible infection prompting higher than anticipated sales of large-screen mobile devices like the iPad in the country.
At the same time that Apple takes tentative steps to reopen all of its retail stores in China, the company's main iPhone assembler Foxconn has announced that it will be "cautiously" resuming production in its main iPhone manufacturing plants.
Apple's retail efforts in China are slowly being brought back to normal during the ongoing coronavirus outbreak, with the iPhone maker reopening 10 more stores in the country, including the first store it closed due to the epidemic.
Apple's coronavirus-related supply chain issues will be a problem for the company long into April, a report claims, as despite efforts from assembly partners, supplies of the iPhone may be constrained for some time to come.
For the second time in two years, Apple has issued a correction to its revenue guidance. After looking foolish for sensationalizing Apple's downfall last year, analysts and tech media reporters are exercising more caution in their coverage of how business interruptions by the coronavirus might affect the company.
While industry observers are clearly seeing a short-term financial and business impact from the coronavirus outbreak in China, the first analysts chiming in on the situation don't have long-term concerns surrounding Apple's financial prospects.
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Mike Wuerthele
William Gallagher
Mike Peterson
Wesley Hilliard
Daniel Eran Dilger
Malcolm Owen
AppleInsider Staff
Mikey Campbell
