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.
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.
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Mikey Campbell
Daniel Eran Dilger
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