Ming-Chi Kuo, the top apple analyst, passed a statement in a note that his firm, TF International Securities, they are cutting down the iPhone shipment, which is forecast for the first quarter of 2020. It all is happening due to the coronavirus. The shipment is decreased by 10%.
The latest survey is made, which indicates that the supply of the iPhone is getting affected due to the coronavirus. That is why they reduced the shipment of the iPhone by 10% to 36-40 mn units in IQ20. Kuo says it all in the report of Sunday. Apple did not yet disclose how many iPhones are shipped in each quarter. At the time of the first quarter of the last year, Apple shipped near around 38 million units.
In a statement, Kuo said that it is yet unclear how the shipment will be effected to the second quarter. It is not possible to pass a clear statement about the shipment in 2Q2020. It is happening because of the uncertainties of the coronavirus, which is affecting the confidence of consumers; this is what he said.
Last Tuesday, Apple reported earnings, when the expectations of iPhone selling smashed. The reports made, $55.96 billion versus $51.92 billion, which is expected from the survey made by an analyst by Refinitiv. The CEO Tim Cook warned for the affected selling of iPhone in the next quarter. Even, he set $4 billion in revenue guidance, which is stated in the range of $63 billion to $67 billion.
On Monday, a report finds by China’s National Health Commission, in which the coronavirus finds 17,205 cases, and there are 361 deaths caused due to it. Apple claimed that there are 40 stores in China closed, and the corporate offices are also going the very same on next Sunday, said over the weekend.