•   
  •   
  •   

Money Apple shares swoon after coronavirus warning

16:25  18 february  2020
16:25  18 february  2020 Source:   msn.com

Queen’s principal asks for ‘dignity and respect’ following coronavirus-themed party

  Queen’s principal asks for ‘dignity and respect’ following coronavirus-themed party The principal of Queen's University is warning people on campus not to "ostracize" Chinese and Asian students.A Queen's University trustee has apologized for attending a coronavirus-themed party over the weekend, and the university's principal has warned of an "insidious social challenge" emerging on campus in light of the outbreak, which originated in China.

The warning sent Apple shares and those of its suppliers lower. Apple shares fell over 3% in pre-market trade on Tuesday after it warned that it does not expect to meet its own guidance for the March quarter because of the impact from the new coronavirus .

Apple has warned that disruption in China from the coronavirus will mean revenues falling short of forecasts. But despite hopes that factories and shops are slowing getting back to normal, Apple 's warning will underline that China's economy will be seriously affected by the coronavirus .

a group of people standing in front of a blue table: FOX Business’ Susan Li reports on how the coronavirus is impacting Apple. © Fox Business Network FOX Business’ Susan Li reports on how the coronavirus is impacting Apple.

Apple shares slid ahead of Tuesday’s opening bell after the iPhone-maker warned that fallout from the coronavirus will crimp quarterly sales.

The uncertain outlook pressured suppliers in Asia and Europe, with TDK Corp. and Dialog Semiconductor both down more than 4 percent, and illustrated the wide-ranging economic fallout from the outbreak, which originated in Wuhan, China, and has sickened at least 72,436 people in the country while killing 1,868. The government has locked down more than 60 million people to curb the spread of the disease, and businesses from amusement parks to casinos, airlines and luxury retailers have taken hits.

Second case of coronavirus confirmed in Metro Vancouver area

  Second case of coronavirus confirmed in Metro Vancouver area A second case of coronavirus has been confirmed in the Metro Vancouver area. Health officials said the second case was confirmed late Monday and that the individual is a woman in her 50s who had close contact with a number of people who had been in the Wuhan, China area.  Health officials said the second case was confirmed late Monday and that the individual is a woman in her 50s who had close contact with a number of people who had been in the Wuhan, China area.

TOKYO (Reuters) - Asian shares fell and Wall Street retreated from record highs on Tuesday after Apple Inc (O: AAPL ) said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China. The warning from the most valuable

Apple Shares Drop After Virus Warning Rattles Tech Investors. By. Mirabaud’s Neil Campling said that Apple ’s warning threatens to open the “floodgates” as the virus affects supply chains around the world.

“Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated,” Cupertino, California-based Apple said in a statement. “As a result, we do not expect to meet the revenue guidance we provided for the March quarter.”

The iPhone maker previously predicted sales of $63 billion to $67 billion from January through March, its fiscal second quarter. The range was wider than usual due to uncertainty related to the coronavirus outbreak.

CORONAVIRUS INFECTS LUXURY SPENDING AT LOUIS VUITTON, RALPH LAUREN

2 presumptive cases of coronavirus confirmed in B.C., bringing total to 4

  2 presumptive cases of coronavirus confirmed in B.C., bringing total to 4 Two presumptive cases of coronavirus have been confirmed in B.C., according to B.C. Centre for Disease Control, bringing the total in the province to four.Dr. Bonnie Henry, the provincial health officer, said Thursday that the two patients are a man and woman in their 30s visiting from China's Hubei province.

TOKYO, Feb 18 (Reuters) - Asian shares fell and Wall Street retreated from record highs on Tuesday after Apple Inc AAPL .O said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China.

(Reuters) - Shares of Apple Inc fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower, after the iPhone maker warned of lower sales in the current quarter acknowledging that the coronavirus outbreak was pressuring its supply chain. The drop in Apple 's stock is set to wipe

Apple, which did not provide updated guidance, said both iPhone supply and consumer demand have been temporarily impacted by the outbreak.

Foxconn, which produces about half of China’s smartphone exports, including the iPhone, has reportedly restarted 10 percent of its operations but has pushed back against reports that it would return to 50 percent capacity before the end of February.

New York-based analysts at Nomura Instinet warn “Foxconn’s own buffer inventory of components – high pre-Lunar New Year – may run down in March.”

Meanwhile, Apple’s retail stores, which were originally scheduled to open on Feb. 10, remain closed across much of the country though they have begun to resume operations in Beijing and Shanghai. About 17 percent of Apple’s sales come from China.

The Nomura analysts consider Apple’s supply challenges as the “gating constraint on near-term results,” and believe production in the second quarter may reach only two-thirds of the company’s target.

A recovery in the third quarter “seems likely,” they added, but the “slope of the recovery remains quite uncertain.”

CLICK HERE TO READ MORE ON FOX BUSINESS

Apple shares have had a strong start to 2020, rising 10.7 percent this year through Friday, outperforming the Nasdaq Composite’s 8.5 percent gain.

Eighth case of COVID-19 recorded in B.C., say health officials .
B.C. now has eight cases of COVID-19. Provincial health officer Dr. Bonnie Henry and Adrian Dix, B.C.’s health minister, gave the update at 10:15 a.m. on Saturday. The patient is a woman in her 60s who is visiting family from Tehran. The woman is in isolation at home with a relatively mild case, said Henry. She is in the Vancouver Coastal Health region. A small number of her close contacts are also in isolation. More to come… Related B.C. has a Provincial health officer Dr. Bonnie Henry and Adrian Dix, B.C.’s health minister, gave the update at 10:15 a.m. on Saturday.

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!