{"id":224420,"date":"2022-04-29T22:00:37","date_gmt":"2022-04-29T22:00:37","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=224420"},"modified":"2022-04-29T20:01:47","modified_gmt":"2022-04-29T20:01:47","slug":"apple-losses","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/apple-losses\/","title":{"rendered":"Apple expected losses due to China shutdowns"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Washington D.C, (Business News Report)|| <\/strong>The American electronics company, Apple, expected that it will inflict losses in the second quarter of this year, due to closures in China.<\/p>\n<p style=\"text-align: justify\">Apple forecasts losses that range from 4 to 8 billion US dollars.<\/p>\n<p style=\"text-align: justify\">Bloomberg quoted Apple as saying during a conference call that China\u2019s restrictions in recent weeks will cast a shadow over the quarter that ends next June.<\/p>\n<p style=\"text-align: justify\">These expectations have raised concerns that supply chain problems will continue to affect the technology industry globally in the wake of the short-term recovery from the pandemic.<\/p>\n<p style=\"text-align: justify\">Several companies involved in technology, such as <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwiB7paJiLr3AhVF2qQKHSLEBd4QFnoECAgQAQ&amp;url=https%3A%2F%2Fwww.microsoft.com%2F&amp;usg=AOvVaw2rml24tGiymaB5FXrBMwY4\">Microsoft<\/a> and Texas Instruments, have expressed concerns that China&#8217;s restrictions will affect sales and impede the manufacture of some important electronic devices, such as the Xbox game console, for example.<\/p>\n<p style=\"text-align: justify\"><span class=\"MUxGbd wuQ4Ob WZ8Tjf\">\u00a0<\/span>&#8220;We\u00a0are\u00a0not immune\u00a0to\u00a0these challenges but we have great confidence\u00a0in\u00a0our teams, in\u00a0our products\u00a0and\u00a0service\u00a0and in\u00a0our strategy,&#8221; Apple CEO Tim Cook said.<\/p>\n<p style=\"text-align: justify\">Apple shares fell 6.2% to $153.50 at the close of trading yesterday, after these expectations were announced.<\/p>\n<p style=\"text-align: justify\">Apple announced that its profits and sales in the second quarter exceeded analysts&#8217; expectations, buoyed by strong demand for iPhones and digital services, and announcing the buyback of new shares worth $90 billion.<\/p>\n<p style=\"text-align: justify\">It said sales during that period rose 8.6% to $97.3 billion, a record quarterly without holidays. Analysts had expected sales to average $94 billion.<\/p>\n<p style=\"text-align: justify\">Earnings amounted to 1.52 dollars per share, compared to 1.42 dollars expected, which contributed to the increase in the company&#8217;s shares at the close of trading. The stock achieved significant gains of 3.9% in late trading.<\/p>\n<p style=\"text-align: justify\">Separately, Apple has officially opened its own self-service repair shop, which provides manuals and parts for users who are looking to fix their iPhones themselves.<\/p>\n<p style=\"text-align: justify\">The online store offers more than 200 individual parts and tools, such as iPhone screws, cameras, batteries, screens and more, allowing customers and third-party companies to access genuine Apple components for the first time. Previously, Apple users had to rely on the company&#8217;s in-house repair service or authorized repair centers to repair devices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington D.C, (Business News Report)|| The American electronics company, Apple, expected that it will inflict losses in the second quarter of this year, due to closures in China. Apple forecasts losses that range from 4 to 8 billion US dollars. Bloomberg quoted Apple as saying during a conference call that China\u2019s restrictions in recent weeks [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":224421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[120,278],"class_list":["post-224420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-apple","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Apple expected losses due to China shutdowns | BNReport<\/title>\n<meta name=\"description\" content=\"BNReport| The American electronics company, Apple, expected that it will inflict losses in the second quarter of this year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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