Well techniques are settling off today as well as investors scale back on risk. Now take a look at Apple that stock off almost 6% today at 270 161 on the tech giant sold to fewer than half a million iPhones in China during the month of February.
This is according to recent government data. We’ve been talking about the fact that Apple could fall victim just in terms of how much of an impact it could see from the CoronaVirus.
We’re looking at from shipments of 1.2 7 million in the same period last year to as you said less than half a million 500,000 iPhones and that’s in China specifically.
So this is all Chinese data that Ives is pulling from and it really speaks to the fact that a demand was hit because stores were closed and the ability for Apple to output any devices was hit because the factories were closed or idled for so long and they’re still not fully up to capacity.
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Apple Products Sales have dropped considerably.
Now when we talk about the overall impact that could have on the global market well according to Bloomberg Apple is already saying that you might see delays in replacement iPhone units if your particular device is damaged at Apple stores and there’s also reports that there are slowdowns in the amount or the ability for Apple to capture the manufacturing parts.
They need for such devices and it’s not just the iPhones. By the way it’s also iPads as well as Apple watch Mac and air pods and air pods in particular are a problem because Apple still hasn’t been able to meet demand for those since they were launched the air pod pros in particular.
Now that they have these issues related to the Corona Virus and still trying to Ratchet back up the production. There’s going to be continued slow down with the pros but for Apple unlike other companies.
It might not be that large of an issue because they have people captured in their ecosystem which means that people aren’t going to be go, go out and look for other devices to get that aren’t Apple devices.
So if they want air pods chances are they’re just going to wait for the air pods to come out ditto the MacBook the iPad and especially the iPhone. It’s on likely existing iPhone users will ditch the Apple ecosystem and go over to Google or Android.
Today we’re talking about the impact the CoronaVirus is having on employees of a lot of these big tech names Amazon. It was just announced it is now recommending its employees in New York and New Jersey began working from home yeah and it’s something that the company has done you know out in Seattle obviously where they had an employee test positive.
Microsoft has done the same thing and I think this is something you’re gonna expect from companies across the board as we start to see the the outbreaks in the U.S. really start to pick up steam Microsoft, Google, Facebook.
They all have big presence here in New York City. So you can expect for them to eventually say look if you can work from home just go ahead and do it.
Apple warns CoronaVirus impact will temporarily limit iPhone supply.
Fox Business Alert Apple warning about the impact of the Corona Virus on his bottom line. What an Apple say yes the two years in a row now that Apple has a warn that it won’t meet its sales targets because of problems in China.
This time around this year it’s CoronaVirus and in a statement on their newsroom confirming that they will not meet their sales target for the March quarter and they’re basically saying that a worldwide iPhone supply is temporarily constrained even though most of their suppliers and manufacturers.
The compilers are outside of who Bay Province they still have a lot of parts of shortages taking place and a lot of flux should we say in terms of which of these Foxconn factories are remaining open which ones will be closed and when the full I guess the full return of workers get back after the Lunar New Year holiday and also the constraint that we’ve seen from the CoronaVirus as well.
So that demand is still there you know we have seen a little bit of a dip in demand because people are not allowed to leave their homes to go buy their iPhones also production is a bit of constraint and since we know that more than half of the iPhones are built and compiled still in China.
This is temporary don’t forget that Apple in their most recent quarter reported record sales and revenue in this transition to services is still ongoing whether or not. We’ll get that cheaper iPhone this spring I think that’s probably a question right now given those supply chain disruptions that we’ve seen from the CoronaVirus.
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