iPhone Production will Decrease Due to Coronavirus, Says Apple

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As we know, the tech giant, Apple, does most of its production in China. As we also know, China is currently battling the coronavirus, now called COVID-19. There has been speculation that the factory closures due to the virus would have an effect on Apple, and this has now been confirmed. On President’s day, Apple released a statement that it would most likely not be able to meet its projected quota for the quarter, citing the turmoil in China as the reason. This is in part due to the closure of factories in an attempt to curtail the spread of the disease, as well as the decrease in direct consumer purchases.

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How will this affect the American stock market?

How will this affect the European stock market?

Tech stocks overall are falling

iPhone SE 2 slated to be released next month