Recently, Apple was the first company to reveal how the pandemic situation affected its business worldwide, highlighting the fact that they haven’t estimated the damage until now.
The company’s sales for this quarter were significantly affected, as its production was slower than expected.
As we’ve recently told you, Apple stores all over the world closed as a precaution for the Coronavirus outbreak, and China closed all 42 of its stores. As a result, the demand for smartphones significantly lowered.
The company’s decision to indefinitely shut down all its physical stores is significantly hurting the company, and KeyBanc analyst John Vinh believes iPhone sales in the US alone decreased by 56 percent in March.
The analyst concludes in a not so optimistic note, by pointing out that “limited indications online sales have been able to make up for Apple Store closures”.
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