Apple warns of coronavirus causing iPhone shortages

Company hit by shutdown in China and says it will fail to meet quarterly revenue target

Apple has warned of global “iPhone supply shortages” resulting from its Chinese factories being shut because of the coronavirus outbreak.

The Californian company told investors on Monday night it would fail to meet its quarterly revenue target of $63-67bn (£48-52bn) because of the “temporarily constrained” supply of iPhones and a dramatic drop in Chinese shoppers during the virus crisis. Apple did not provide a new forecast for its second-quarter revenue.

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