Apple has announced that it will periodically reveal its revenues on April 30. The numbers will correspond to the revenues obtained in the second fiscal quarter, for the months of December, January and February. We note that Apple’s fiscal year runs from September to September.
However, the numbers should not be positive. The company itself admitted in February that it probably would not reach the projected values for the quarter. The reason will be the outbreak of COVID-19, which has had several negative impacts on the world of technology.
Regarding Apple, the apple company was forced to close its stores in central China, near the epicenter of Wuhan. The same destination was placed in stores in the United States, and some retailers in Europe (iStore, GMS).
In addition, its factories were temporarily closed in China due to the pandemic. Although China reports that things are returning to normal in production, the effects of these measures will weigh on revenue and tax reports.
Original projections will not be fulfilled
Originally, Apple had projected revenues between $ 63 billion to $ 67 billion. However, due to the situations mentioned, the numbers should be well below that. Prior to the new coronavirus situation, Apple was experiencing healthy sales growth.
Even in China, an extremely competitive market, Apple was regaining ground in relation to competitors like Huawei and Xiaomi, due to the iPhone XS and iPhone 11. It remains to be seen what the future holds for the apple company and the rest of the industry.