Apple does’t have enough iPhones to sell.
Coronavirus is slowing both iPhone production and demand, according to a earnings guidance note Apple released today. Those factors will cause Apple to miss its quarterly guidance.
“Worldwide iPhone supply will be temporarily constrained,” the company said today in a statement. “While our iPhone manufacturing partner sites are located outside the Hubei province — and while all of these facilities have reopened — they are ramping up more slowly than we had anticipated … these iPhone supply shortages will temporarily affect revenues worldwide.”
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