NEWSmargin 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 $91.8 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.
NEWS
marginbetween 38 and 39 percent.Appledidnot
providerevisedQ2earningsestimates.Inareleased
statement,Applestatedthatitis,“experiencing
aslowerreturntonormalconditionsthanwehad
anticipated.Asaresult,wedonotexpecttomeetthe
revenueguidanceweprovidedfortheMarchquarter
duetotwomainfactors.”
Inastatement,ApplesaiditexpectedtheiPhone
supplyconstrainttobetemporary.Demandfor
AppleproductsinChinahasbeenaffectedaswell,
withApplestoresclosedforaduration,andthen
reopeningatareducedschedule.
“OutsideofChina,customerdemandacrossour
productandservicecategorieshasbeenstrongto
dateandinlinewithourexpectations,”Applesaidin
thestatement.Inanotetoemployeesobtainedby
BloombergNews,CEOTimCookechoesthecompany’s
statementandassuredworkerthat“Ourfirstpriority- nowandalways–isthehealthandsafetyofour
employees,supplychainpartners,customers,andthe
communitiesinwhichweoperate.”
ApplecloseditsQ1 2020 witharecord$91.8billion
inrevenue,withiPhonesalesup 7 percentoverthe
previousholidayquarter.Itssecondquartercloses 30
March,withresultslikelydueinearlyApril.