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Coronavirus could cost Apple billions in missed sales, analysts say: Tech

Wednesday, February 19, 2020

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FILE - In a Feb. 14, 2020 file photo, employees wear face masks as they stand in a reopened Apple Store in Beijing. Apple Inc. is warning investors that it won't meet its second-quarter financial guidance because the viral outbreak in China has cut production of iPhones. The Cupertino, California-based company said Monday, Feb. 17, 2020 that all of its iPhone manufacturing facilities are outside Hubei province, and all have been reopened, but production is ramping up slowly. (AP Photo/Mark Schiefelbein, File)

Coronavirus could cost Apple billions in missed sales: Apple may lose billions of dollars in sales because of the coronavirus outbreak in China, according to estimates from at least two industry analysts. 

A mixture of slow sales in the country, coupled with a manufacturing slowdown due to the virus, could set Apple (AAPL) back between $4 billion and $7 billion in its upcoming quarter, the analysts say. The analysts' expectations follow a statement from Apple on Monday that it’s no longer on track to meet its prior revenue estimates of between $63 billion and $67 billion in the quarter. 

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