Apple’s (AAPL - Free Report) iPhone sales have taken a hit in China due to the ongoing coronavirus outbreak.
Per a Bloomberg report, demand for the product fell 28% month over month in January, according to a UBS research note citing China’s official data.
Last week, Apple revised its March quarter revenue guidance, stating that it will be unable to meet current expectations. Earlier revenue projections for the tech giant’s fiscal second-quarter 2020 were between $63 and $67 billion.
Apple stated the closure of its stores as well as limited hours and low customer traffic as reasons that negatively impacted demand for its products in mainland China.
Apple Inc. Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Apple’s (AAPL - Free Report) iPhone sales have taken a hit in China due to the ongoing coronavirus outbreak.
Per a Bloomberg report, demand for the product fell 28% month over month in January, according to a UBS research note citing China’s official data.
Last week, Apple revised its March quarter revenue guidance, stating that it will be unable to meet current expectations. Earlier revenue projections for the tech giant’s fiscal second-quarter 2020 were between $63 and $67 billion.
Apple stated the closure of its stores as well as limited hours and low customer traffic as reasons that negatively impacted demand for its products in mainland China.
Apple Inc. Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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