CHINA (CNN)— The novel coronavirus isn’t just affecting people’s health, it’s also affecting the health of businesses all over the world.
In fact, Apple says the outbreak it’s hurting business more than they even expected.
That’s because it’s limiting how many iPhones it can make and sell in China, which is where most of Apple’s manufacturing happens and has been hardest hit by the outbreak.
Apple temporary closed all of its stores in China. Even though they’re slowly reopening– bouncing back will take some time.
The company reached out to its investors Monday saying that these iPhone supply shortages will temporarily affect revenues worldwide.
The company no longer expects to meet the revenue guidance it provided last month for the upcoming March quarter.
