The impact of the coronavirus transmission epidemic (COVID-19) in China was felt by electronics companies and gadget manufacturers, including Apple. Especially with the decrease in the number of visitors who make purchases of devices at local sales facilities. On the other hand, Corona Virus disrupts Apple sales plans in early 2020.
The number of sales of Apple-made devices is even expected to decline by more than 50 percent. As reported by the South China Morning Post page, Apple is only able to sell around 500 thousand iPhone units throughout February 2020 in all regions of China.
As an illustration, the note is at odds with iPhone sales in China in January 2019. During that period Apple was able to send nearly 1.3 million units of its smartphones to all regions of the Bamboo Curtain country.
The decline in big sales was influenced by the policy of closing Apple’s official sales facility in China in February. The closure for two weeks was prompted by an order to limit outdoor activities and limited access to transportation in accordance with the directions of the Chinese Government.
The effect of concern about the corona outbreak in Apple’s gadget sales has even caused Apple’s CEO, Tim Cook, to feel pessimistic. Cook reportedly made a presentation to a number of investors that his company would not meet its revenue targets in the early quarter of 2020.
In addition, the expert, Elliot Lan, wrote that the launch of the iPhone 5G in the fall has the potential to delay for one month. Thus, the launch of the iPhone SE2 will be delayed in a few months due to supply problems and weakening demand amid the outbreak or co-19.
BofA analyst Wamsi Mohan said the timing of the launch of the new iPhone product would be determined by production conditions in April and May. Deutsche Bank cut Apple’s target price share from US $ 305 per share to US $ 295 due to uncertainty caused by the spread of the Covid-19.
Earlier this week, iPhone manufacturer Hon Hai Precision Industry Co. said its factory in China will start operating normally at the end of this month. BofA confirmed its rating and price target for Apple shares at the level of US $ 350 by considering a fairly good cash balance.
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