The coronavirus is only a "temporary condition" to deal with, Apple CEO Tim Cook suggests, but while he is uncertain about how it will affect the quarter's finances, he still believes Apple is "fundamentally strong" and will weather the storm.
The iPhone 11 was the second best-selling smartphone in the entire world for 2019 behind the iPhone XR, Counterpoint Research claims, despite only being made available for fewer than four months out of the whole year.
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.
While the coronavirus is still having a big impact on China iPhone production, and the smartphone market as a whole, Morgan Stanley sees the impacts as mostly timing problems for Apple, and are buyers, maintaining a $368 stock price target.
Apple has issued a warning to shareholders attending Wednesday's annual shareholder meeting about the coronavirus, asking people who recently visited China to make sure they self-quarantined for two weeks beforehand, to minimize further spread of the virus.
The 89-year-old billionaire Warren Buffet says that he has switched to the latest iPhone after years of using a $20 flip phone, despite years of investing in Apple and describing it as the best business in the world.
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.
Berkshire Hathaway, Warren Buffett's investment fund, has reduced its holdings in Apple over the last quarter, offloading in excess of $800 million worth of Apple stock over a three-month period, but it still maintains its position as the iPhone maker's biggest shareholder.
Since 2012, Apple has been buying back its shares at an extraordinary rate, often exceeding $10 billion— and frequently approaching $20 billion— per quarter. Now that its stock has doubled across the last year, why is it continuing to snap up shares?
Apple Music rival Spotify's efforts to push for podcasts is paying off, reporting in its Q4 financial results a 200% year-on-year rise in the listening of the shows, with the streaming music service still retaining the top spot globally with more than 124 million paying subscribers.
Japan Display has been given a much-needed bailout, agreeing on Friday to an investment of up to 100.8 billion yen ($926 million) from Ichigo Asset Management, funds that will help keep the beleaguered Apple supplier in operation.