Apple, the company we all know and love for creating our beloved iPhones & iPads, is preparing for a much anticipated iPhone supply shortage due to the Coronavirus outbreak in China. China, is where a large number of their iPhones are produced and sold. Apple has some manufacturing facilities outside of the Hubei province, which is where the epicenter of the Coronavirus outbreak is. Their facilities temporarily had to shut down due to the heavy Coronavirus outbreak but they are now slowly reopening. They anticipate that it will take a bit to get fully back up and running at full scale thus resulting in an iPhone supply shortage.
In addition, stores in China have temporarily closed due to the Coronavirus outbreak so sales have been down as well. China is a huge market for Apple products and Apple is feeling the hit financially.
The Coronavirus is becoming more than just a health concern, it's becoming a financial concern as well. It is hurting companies like Apple and this Coronavirus outbreak could very well cost Apple as much as $4 Billion Dollars! Read more on the potential lose for Apple, HERE.
Coronavirus Facts worldwide thus far:
- Over 73,000 cases
- 1,875 deaths
- Present in 29 countries & territories
-Producer Lightning