Business

Apple Slides 3% At Open On Revenue Warning

Apple Slides 3% At Open On Revenue Warning

Apple shares slid some three percent in opening trade Tuesday after announcing it will take a financial hit from the deadly coronavirus epidemic.

The US tech giant said in a statement Monday its revenue for the current quarter would be below its forecasts, and that worldwide iPhone supply "will be temporarily constrained" because of the global virus outbreak, notably in China where Apple manufactures most of its devices.

"Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated," Apple said in its investor update.

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