Apple reveals it will not meet revenue targets due to coronavirus outbreak

Apple CEO Tim Cook, sent a memo to all its employees on February 17 dressing impact of dely coronavirus on company, as per reports. Apple Inc reportedly issued a statement on February 17 and said that it will miss its quarterly revenue target for March due to slowdown in work and lower smartphone demand amid coronavirus outbreak. In dition, Cook said that safety of employees is company's main concern, as per reports.

virus outbreak in China is taking a bigger toll on one of world's most valauble companies. company revealed that iPhone which generates huge revenue for company is temporarily under pressure due to slower production as anticipated in current fiscal quarter. Apple reportedly said that work is going to resume around country and ded that y are experiencing a slower return than y h expected.

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Moreover, demand for iPhones have dropped significantly as stores in China have been shut down or operating with less working hours, as per reports.  company h expected revenue of $63 billion to $67 billion for second fiscal quarter ending in March. analysts estimated an aver revenue of $65.23 billion, as per reports. process has been slow as factory workers and manufacturers look forward to contain virus that has claimed more than 1800 lives in China. 

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Over 1800 died in China

death toll for vel Coronavirus hit 1,868 in last 24 hours in mainland China. As per Chinese state health committee, it has increased by 98 in just one day. committee also ded that number of confirmed cases has gone up by 1,886 to 72,436. First detected in city of Wuhan, in Hubei Province of China, virus outbreak has w spre across 20 countries since December 2019. About 1,701 people have recovered from disease, whereas, a total of 12,552 coronavirus patients have by w been discharged from hospitals.

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World Health Organisation (WHO) has dubbed virus as COVID-19. death toll for n-Coronavirus has surpassed tolls from SARS epidemic of 2002-03. origin of virus has been linked to local seafood market of Wuhan, which is capital of Hubei province in central China. Few of countries currently affected by virus include Singapore, Thailand, Japan, India, and United States.  

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