TF International Securities analyst Ming-Chi Kuo cut his iPhone shipment guidance by 10% on Monday on indications that coronvirus is affecting Apple's iPhone supply chain.
TF International Securities analyst Ming-Chi Kuo cut Q1 2020 shipment guidance by 10% on Sunday.Apple CEO Tim Cook warned in earnings last week that the coronavirus could affect revenues for the quarter.
Customers look at the Apple's new iPhone 11 series smartphones in an Apple retail store on East Nanjing Road in Shanghai.analyst Ming-Chi Kuo said in a note Monday that his firm,TF international Securities is cutting iPhone shipment forecasts for the first quarter of 2020 by 10% because of the coronavirus.
Kuo said it's unclear how shipments will be affected moving into the second quarter. "It's difficult to predict the shipments in 2Q2020 because of the uncertainties of the coronavirus epidemic and consumer confidence," he said.. It reported iPhone revenues of $55.96 billion versus $51.92 billion expected by analysts, according to Refinitiv consensus estimates.
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