Apple(NASDAQ:AAPL) stock has been trading in the red after it predicted a $4 billion to $8 billion reduction in sales due to ongoing supply constraints.
Coronavirus-led restrictions in China are likely to take a toll on the company’s quarterly performance in June. Its fiscal second-quarter profits and revenues came ahead of analyst estimates, fueling strong demand for its digital services and the iPhone. Hence, the troubling outlook has cast a shadow on another rock-solid performance by the iPhone maker.
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