Apple Says Covid-19 Lockdowns in China Loom Over Sales

Apple Inc. cautioned Thursday that the resurgence of Covid-19 in China threatens to hinder sales by as much as $8 billion in the current quarter—a setback after seeing supply-chain improvements during the first three months of the year.

The guidance from the iPhone maker came Thursday shortly after the company posted one of the best quarters in its 46-year history. The whipsaw of news sent the company’s stock on a jolting ride in aftermarket trading—first rising 2%, then falling more than 5%.

Leave a Comment