Apple Says March Quarter Revenue Will Fall Short Due to Coronavirus Impact [Updated]

[Bin Cook]

Expected impact from virus, nothing to see h... oh wait, Tim has felt moved to memo and quash rumours. Interesting, very interesting.

 

[PickUrPoison]

🤔

iPhone was announced on Jan. 9, 2007. The stock price closed at $12.21 the previous day. The stock closed at $324.95 on Feb. 14, 2020. That's a gain of $312.74 or 2561.34%

They were also the first trillion dollar company.

Apple is doomed?

Fun fact: If one had re-invested dividends, a $1,000 investment when the iPhone was released would be over $39,000 today.

 

[neuropsychguy]

What did they expect? Viruses don’t use phones.

Heck, they don’t even have hands!

Apple’s walled garden approach to apps certainly helps keep viruses away! 😉

 

[Yojimbo007]

Apple will be fine in the long run.. its a bump on the road...
Hope the virus gets under control and brings some peace of mind to the people in China and elsewhere.

 

[gnasher729]

Apple needs to branch out and help the broken hospital system. We have great and fast enough iPhones, iPads and Macs . But when it comes to the hospitals THE SYSTEM IS BROKEN. there are so many diseases out there and NO CURE, not even for the common cold of the FLU which has already killed 10,000 people in the USA this year. More deaths than the coronavirus. Just shows how ILL equipped we are for a major Pandemic. I actually read that the scientists were predicting major VIRUS pandemics years ago and no one prepared still yet.

Speak for yourself. Your health service doesn't have to be able to handle a pandemic. It has to handle small numbers of infections, and test and if neccessary isolate anyone who had contact with someone infected. In the UK nine people so far have been found to be infected, all coming from outside the country. Over 3,000 possible contacts have been tracked, with the result that the number of infected isn't growing. Last number was that the current number of people being ill is down again to ONE.

 

[mikethemartian]

Apple needs to branch out and help the broken hospital system. We have great and fast enough iPhones, iPads and Macs . But when it comes to the hospitals THE SYSTEM IS BROKEN. there are so many diseases out there and NO CURE, not even for the common cold of the FLU which has already killed 10,000 people in the USA this year. More deaths than the coronavirus. Just shows how ILL equipped we are for a major Pandemic. I actually read that the scientists were predicting major VIRUS pandemics years ago and no one prepared still yet.

There is no cure for the “common cold” because it is just a description of similar symptoms from many different viruses.

 

[mdriftmeyer]

🤔

iPhone was announced on Jan. 9, 2007. The stock price closed at $12.21 the previous day. The stock closed at $324.95 on Feb. 14, 2020. That's a gain of $312.74 or 2561.34%

They were also the first trillion dollar company.

Apple is doomed?

Stock has split 7:1 since the iPhone. Since 2000, the stock is over 25,000%.

 

[jonblatho]

iPhone was announced on Jan. 9, 2007. The stock price closed at $12.21 the previous day. The stock closed at $324.95 on Feb. 14, 2020. That's a gain of $312.74 or 2561.34%

The stock price was not $12.21 when the iPhone was announced.

Edit: Someone beat me to it, but yep, adjusted for the stock split it’d be more like $85.47 and the current stock price would be knocking on $2,300. Still remarkable growth regardless.

 

[tongxinshe]

That makes no sense whatsoever. It’s well into the quarter, and Apple knows what it’s sales have been and knows how many devices its factories can make. So it knows it can’t make enough to keep up with demand in the near term. Nothing at all suggests this has anything to do with “iphone 9.”

It's too early to predict when those factories could return to full speed. It's been about half year since the iPhone 11 release, the regular demand has dropped a lot, so that full-speed running factories could very quickly fill the demand gap.

Only a loss of the first-week-after-release demand surge could explain such kind of early warning of revenue miss. The last time Apple warned about revenue miss was Jan. 2019, a couple days after the to-be-reported quarter had already finished.

 

[MauiPa]

Apple needs to branch out and help the broken hospital system. We have great and fast enough iPhones, iPads and Macs . But when it comes to the hospitals THE SYSTEM IS BROKEN. there are so many diseases out there and NO CURE, not even for the common cold of the FLU which has already killed 10,000 people in the USA this year. More deaths than the coronavirus. Just shows how ILL equipped we are for a major Pandemic. I actually read that the scientists were predicting major VIRUS pandemics years ago and no one prepared still yet.

Yah, that is totally on Apple. No room for responsible government action, is there any of that anywhere now?

Maybe Apple will match the $10 billion Bezos has committed to the cause.

View this content on Instagram

View this content on Instagram

Today, I’m thrilled to announce I am launching the Bezos Earth Fund.⁣⁣⁣
⁣⁣⁣
Climate change is the biggest threat to our planet. I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share. This global initiative will fund scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals. ⁣⁣⁣
⁣⁣⁣
I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common — let’s protect it, together.⁣⁣⁣
⁣⁣⁣
- Jeff

maybe Washington will react maturely and responsibly, oh yah. That’s a dumb thing to say, sorry. Chinese hoax!
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It bothers me that Apple calls this viral outbreak a “extended Chinese New Year holiday”.

That is not really what they said and you know better

 

[cmaier]

It's too early to predict when those factories could return to full speed. It's been about half year since the iPhone 11 release, the regular demand has dropped a lot, so that full-speed running factories could very quickly fill the demand gap.

Only a loss of the first-week-after-release demand surge could explain such kind of early warning of revenue miss. The last time Apple warned about revenue miss was Jan. 2019, a couple days after the to-be-reported quarter had already finished.

Nonsense. They’ve already missed a couple weeks production and they know how many more weeks of production they are going to miss. You are making a ridiculous leap.
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Speak for yourself. Your health service doesn't have to be able to handle a pandemic. It has to handle small numbers of infections, and test and if neccessary isolate anyone who had contact with someone infected. In the UK nine people so far have been found to be infected, all coming from outside the country. Over 3,000 possible contacts have been tracked, with the result that the number of infected isn't growing. Last number was that the current number of people being ill is down again to ONE.

What? There were just 14 new cases on that ship, alone?

 

[orbital~debris]

Nice to see MacRumors writing staff actually acknowledging and using one of the correct names for the outbreak (COVID-19) instead of ‘coronavirus’, guess it had to be used by Apple for you to take note though, huh? 🙄

 

[The Barron]

Apple today issued an update on its financial guidance for the March quarter, announcing that the company will not meet its revenue goals due to the impact of the COVID-19 coronavirus epidemic in China.

Article Link: Apple Says March Quarter Revenue Will Fall Short Due to Coronavirus Impact [Updated]

Keep snapping up shares of Apple during the big down days on the stock market. We all know it will be setting new all-time highs in the future, so get them while they're on sale!

 

[weup togo]

What is particularly notable about this earnings disclosure is that Apple didn't provide any new guidance. All they're willing to say is China demand has collapsed and there will be channel shortages.

This situation is much worse than most people think, not just for China, but for every corner of our interconnected world.

 

[Strelok]

Nice to see MacRumors writing staff actually acknowledging and using one of the correct names for the outbreak (COVID-19) instead of ‘coronavirus’, guess it had to be used by Apple for you to take note though, huh? 🙄

Is this some sort of gate keeping? Everyone knows it as corona virus and it’s not like we are scientists trying to cure it here.

 

[PickUrPoison]

Is this some sort of gate keeping? Everyone knows it as corona virus and it’s not like we are scientists trying to cure it here.

It sure seems like a strange thing to care about.

People have some strange concerns regarding the naming. Someone in another thread expects to see people “get cancelled” over using the terms Wuhan Coronavirus or Wuflu.

wtf?

 

[akidd]

I thought Apple is not affected by viruses, checkmate fanbois! /s

Buying when the stock dips.

Be serious or just don’t bother trolling.

 

[handle manifest]

Update 5:59 p.m.

That can't be PST, as the time stamped on MacRumors articles is when daylight saving time isn't in effect.

 

[DocMultimedia]

I predict AAPL will be up tomorrow.

I doubt it (but who knows). I do think there will be a big plunge at the start of the day, and I think that will be a great time to buy. IMO. I just keep buying. #AAPL

 

[sw1tcher]

The stock price was not $12.21 when the iPhone was announced.

Based on the 7-to-1 stock spit it was.

 

[FelixDerKater]

Should have been spreading out production, not concentrating under one hostile regime.

 

[Cosmosent]

I really like Cook's Memo to Employees !

It's well stated !

 

[EM2013]

Perhaps corporations like Apple should pressure the Chinese government for real change - after all the impact has been billions of $ and at least 1800 dead so far.

They’re all scared to criticize China’s government. Just like the NBA.

 

[farewelwilliams]

pretty sweet as i dumped all of my AAPL shares on friday
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How's that manufacturing in China working out for you now Tim Apple?

would you like to pay 2x the price of the iPhone for a made in USA product? no? ok, then back to China.

 

[jonblatho]

Based on the 7-to-1 stock spit it was.

You said the stock “closed at $12.21.” That’s simply not true, unless you specify that the price was adjusted for splits. If it closed at a split-adjusted price of $12.21, then it closed at $85.47.