Apple reports higher sales as China reopens after coronavirus but gives no forecast [Reuters]
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Source: Reuters
Apple reports higher sales as China reopens after coronavirus but gives no forecast (Reuters) - Apple Inc ( AAPL.O ) reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were “headed in the right direction” as that country reopens from the novel coronavirus. But Cook said it was impossible to forecast overall results for the current quarter because of uncertainty created by the virus. With its global brand, few American companies have been exposed to the spread of the coronavirus like Apple, whose iPhone sales declined in the March quarter as device sales were forced to online-only in many places. Sales of services such as streaming television content rose with billions of people locked in their homes. China, where the virus was first detected, is both a major market for Apple, supplying about a sixth of its overall sales, and is also home to most of Apple’s contract factories. Apple saw China sales of $9.46
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