Apple has announced that it will be temporarily closing some of its retail stores in Italy to help stop the spread of the Coronavirus.
Please refer to Apple’s Italy website for the latest closures.
(Reuters) - Skyworks Solutions Inc <SWKS.O>, which supplies radio chips to Apple Inc's <AAPL.O> iPhones, cut its quarterly results forecasts on Wednesday, saying the coronavirus had disrupted distribution while stressing its largely Asia-based production facilities had been little affected.
Earlier in February, Apple warned that sales for the first three months of the year would fall short of estimates as the coronavirus outbreak affected both production and demand in China.
Apple accounted for 51% of Skyworks' net revenue in 2019, according to a regulatory filing. Skyworks also derives nearly 20% of its annual revenue from China.
Skyworks' cut its forecast for sales to between $760 million and $770 million, from a previous $800 million to $820 million. Analysts were expecting revenue of $790.1 million, according to IBES data from Refinitiv.
Excluding items, the company now expects earnings of $1.34 per share from $1.46 per share. Analysts, on average, were expecting profit of $1.42 per share.
Shares in the company rose around 2%, roughly in line with a broad early bounce on Wall Street.
Bloomberg is reporting that Apple’s online and retail stores are seeing limited availability of its popular iPad Pro in the United States, Australia, Europe, and in other countries which may mean that the company is planning on introducing newer models within a few weeks.
This would fit in with the usual yearly timeline of introducing new hardware to a product lineup.
Myriad class action suits against Apple's battery OS update that could have resulted in a device with a depleted battery performing tasks slower may be coming to an end.
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