Apple’s 5G iPhone launch may see coronavirus delay, analysts say
- Foxconn, Apple’s main iPhone supplier, expects its Chinese plants to begin operating normally by the end of March
- Apple’s second-quarter financial results are expected to be released around the end of next month
Apple extended its recent sell-off, as analysts continue to see uncertainty over how the coronavirus outbreak will affect the iPhone maker’s sales and supply chain.
The US technology giant’s highly anticipated 5G iPhone could see its fall release delayed by a month as a result of the outbreak, according to a report from Bank of America (BofA).
The report cited a conversation with Elliot Lan, an expert on Apple’s supply chain. Lan also expects the launch of the iPhone SE2 will be delayed “by a few months” owing to “both supply issues as well as the weaker demand environment from Covid-19”.
The launch timing for upcoming models will “depend on how production ramps back up in April and May”, according to BofA analyst Wamsi Mohan.
Shares of Apple fell as much as 4 per cent on Friday before paring the drop to 2.4 per cent at 11:09am in New York. The stock has fallen 13 per cent since its record close on February 12, in line with the S&P 500’s decline over that period.