Apple will miss quarterly earnings estimates due to coronavirus

Details: The company said in a statement that it expects slower revenue due to a combination of slower iPhone production in China and lower demand for Apple products within China.

• "Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter."
• Apple had already given a wider range of guidance for the quarter, citing uncertainty over the virus' impact on both demand and production.

Apple stressed it sees the impact as temporary: "Outside of China, customer demand across our product and service categories has been strong to date and in line with our expectations."