China has figured at a prominent position on Tuesday in the earnings report of Apple and this has helped in the fueling of a record quarter for holidays and has also played an equally important role in the hanging uncertainty in the present quarter.
Apple has become to latest country which has flagged an alarm about the near-term business impact of the coronavirus of China
One year after a sustained period of weakness in China has prompted a rare warning of earnings. Apple had been able to get back to growth in this region. The company has said that it has seen a double digit growth in iPhone Sales and in the services as well as wearables business.
Though China has also been a source of caution all through the conference call of Apple this Tuesday particularly as the CEO of Apple Tim Cook noted that the $63- $67 billion outlook of revenue in the present quarter was better than the analyst forecast but had a wide range with the impact of the coronavirus.
Apple closed one of their stores in China while the third party retailers also had shut the points of distribution down and had reduced the hours of operation at some others. The traffic is also down at a few stores of retail outside the Wuhan area.
A few of the suppliers in and around Wuhan had thought to be at the very epicenter of the outbreak although Apple said it did have more sources for the components which it gets and the impact on the suppliers outside of Wuhan is not clear yet. Factories are beginning operations later than they usually do after the holiday.