Coronavirus could cost Apple $4 billion this quarter as the firm warns of iPhone shortages
known as COVID-19. The virus, which is believed to have originated at a wet market in Wuhan, the capital of the Hubei province of China, has killed more than 1,700 and infected more than 71,000.
According to analysts at Instinet, an independent broker based in New York, a slowdown in iPhone and AirPod production could see sales drop from $65 billion to around $61 billion. Jeff Kvaal, managing director, said: "Apple indicated all of its facilities are outside of Hubei province and have reopened... [but] more slowly than expected."
, attractions and stores have been shuttered, and the Lunar New Year holiday was extended to stem the spread., 42 Apple stores in China had closed and only seven have reopened. The company said that it would continue to monitor the situation, saying that the health and well-being of those impacted by the coronavirus was the company's primary focus.
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