10 Macworld • April 2020NEWS
between $63 and $67 billion, and gross margin
between 38 and 39 percent. Apple did not provide
revised Q2 earnings estimates. In a released
statement, Apple stated that it is, “experiencing
a slower return to normal conditions than we had
anticipated. As a result, we do not expect to meet
the revenue guidance we provided for the March
quarter due to two main factors.”
In a statement, Apple said it expected the
iPhone supply constraint to be temporary. Demand
for Apple products in China has been affected as
well, with Apple stores closed for a duration, and
then reopening at a reduced schedule.
“Outside of China, customer demand across
our product and service categories has been
strong to date and in line with our expectations,”
Apple said in the statement. In a note to employees
obtained by Bloomberg News, CEO Tim Cook
echoes the company’s statement and assured
worker that “Our first priority – now and always
– is the health and safety of our employees,
supply chain partners, customers, and the
communities in which we operate.”
Apple closed its Q1 2020 with a record $91.
billion in revenue, with iPhone sales up 7 percent
over the previous holiday quarter. Its second
quarter closes 30 March, with results likely due
in early April.