Apple says will not meet revenue guidance for March quarter due to coronavirus outbreak

Apple said that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China

FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo

- Apple Inc said on Monday that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China. The company said that despite the fact that its productions facilities in China have re-opened, they are ramping up slower than expected.

The company had forecast $63 billion to $67 billion in revenue for the quarter ending in March, ahead of estimates of $62.4 billion.

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