Apple makes iPhones at factories in China, which was the epicenter of the coronavirus outbreak. Factories in China closed to curb the spread of the deadly virus, which disrupted Apple’s production schedule. The company also closed its retail stores in China as the virus continued to spread in the country. Now, Apple has reopened its China stores and closed stores in other parts of the world.
Apple cut its revenue expectation for the March quarter due to factory hiccups and store closures.
If the Apple and Japan Display collaboration enables Apple to cut its LCD screen costs, it could realize better profits from iPhone sales. The company derives most off its revenue from iPhone sales.
Apple stock fell 5.26% in March. The spreading coronavirus weighed on investors’ appetite for company shares.
View more information: https://marketrealist.com/2020/04/apple-buys-stake-japan-displays-lcd-hakusan-plant/