The American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services had a strong Q4 with the iPhone 11 dominating global sales, but the company’s Q1 prospects have taken a hit due to the Coronavirus outbreak, says analyst Ming-Chi Kuo.
He forecasts a 10% decrease in shipments, down to 36-40 million units for the first quarter of 2020, despite assurances from Foxconn last week that production will not be affected (iPhone camera parts and other components are made in Foxconn’s factory in Wuhan, the center of the outbreak).
It’s not just the current models that are affected, the so-called iPhone 9 (aka SE 2) was supposed to start production this month in preparation for a launch in March. However, it now looks like the initial supply will be limited. Apple accessories like the AirPods could be affected too. Apple stores in China are closed until the end of the week out of “an abundance of caution”. The Chinese market as a whole is down 50-60% year-over-year after the Chinese New Year celebration due to the outbreak, according to Kuo’s numbers.
Apple
The one of the top four IT companies, American giant and a multinational technology company is headquartered in Cupertino, California, the company designs, develops, and sells consumer electronics, computer software, and online services.
The company’s hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds and the HomePod smart speaker.
Apple’s software includes the macOS, iOS, iPadOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam acoustic fingerprint utility, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro, Logic Pro, and Xcode.
Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card.
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