Apple unlikely to meet sales target due to coronavirus impact in China

Topics Coronavirus


Shares of Apple fell over 2 per cent on Tuesday and dragged the stocks of its suppliers across the globe lower, after the iPhone maker warned of lower sales in the current quarter acknowledging the coronavirus outbreak was pressuring its supply chain. The drop in Apple’s stock is set to wipe nearly $30 billion off its market capitalisation, just as it was inching closer to $1.5 trillion in value.

The stock was trading down at $315.90. However, several Wall Street brokerages dubbed Apple’s update forecast as a.

This article is no longer available in our repository.

There could be multiple reasons for this.