The Coronavirus outbreak in China has impacted the production of iPhones, and as such, Apple is expecting to make less money during the current fiscal quarter. The company is also expecting worldwide iPhone shortages.
Apple said in a statement that it no longer expects to reach its projected revenue of between $63 billion and $67 billion for its Q2 2020, which ends on March 28.
"Work is starting to resume around [China], but we are experiencing a slower return to normal conditions than we had anticipated," Apple said in a statement to GameSpot sister site CNET. "As a result, we do not expect to meet the revenue guidance we provided for the March quarter."
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