How long can coronavirus resilience last?
Investors’ remarkable resilience to the threat of coronavirus has lasted beyond the first major company warning. Apple has said that it will not hit its $67bn sales targets for the first quarter of 2020 because the epidemic in China has impacted both supply and demand of iPhones, which contribute roughly 60% of group revenue.
Apple (US: AAPL) is not alone in its exposure to Chinese consumers and manufacturers (both of which have been hit as the coronavirus quarantine forces factory workers and shoppers alike to stay at home) and will therefore not be the only company to make this type of announcement. But investors continue to show remarkable resilience to the threat. True, Apple’s 2% share price decline in the wake of its warning wiped $40bn off the…
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