Apple set to lose over $4 billion due to the Coronavirus

The Novel Coronavirus which has now killed more than 900 people globally and has infected more than 40,000 is wreaking havoc on global health, but it is also causing major industry and production delays across major corporations, China’s state of emergency has forced a couple of companies including Apple to close stores and delay or move production elsewhere.

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With these closures and delays Apple is set to suffer losses of over $4 billion due to the Coronavirus outbreak, the spread of which has put a strain on Foxconn’s production centers, and due to the state of emergency, Apple has also had to close its stores in China. As we know health is more important than money however, this will impact many other Apple partners and subsidiaries in the long run.

According to Dan Ives, an analyst at Wedbush Securities, the delays and closures translate into a million iPhones less produced per week, and not to mention that the new 2020 iPhones and Apple products will most likely be delayed even further until the outbreak is contained.

The effects of the Coronavirus are worrying for all around the world, and people need to take precautions as we do not know how long this outbreak will last and if someone in your area might be infected as the virus has an incubation period of 2 weeks.

The containment of the virus should be everyone’s priority as well as to read up on how to prevent, protect & sustain good hygiene and health practices.

See below links to information and recommendations from the World Health Organization, Centers for Disease Control and Prevention, and the European Centre for Disease Prevention and Control.

WHO – Novel Coronavirus (2019-nCoV) advice for the public

CDC – Novel Coronavirus – Summary

ECDC – Novel Coronavirus Overview