Apple shares slide after coronavirus guidance warning as its suppliers are hammered
shares fell over 3% in pre-market trade on Tuesday after it warned that it does not expect to meet its own guidance for the March quarter because of the impact from the new coronavirus.
The U.S. technology giant has large exposure to China with around 15% of revenue coming from the region and most of its products, including the lucrative iPhone, being made there. Meanwhile, JPMorgan lowered its iPhone volume expectations in a note on Tuesday to 39.5 million units in the March quarter versus a prior estimate of 47.5 million.
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