KEY POINTS

  • Apple is one of the many tech companies with crucial interest in China
  • The COVID-19 outbreak has affected the company's supply chain
  • However, it looks like Apple CEO Tim Cook is optimistic and believes that China is handling the outbreak quite well

The unexpected health crisis in China, which started at the turn of the new era has affected business operations not only in the region but also in other parts of the world. The COVID-19 outbreak paralyzed businesses in the virus-stricken Wuhan and neighboring places that disrupt the supply chain. Apple is one of the many major companies that experienced this, but its CEO is still optimistic about doing business in the region.

Apple On COVID-19

Apple CEO Tim Cook recently shared his thoughts about the recent COVID-19 virus in China. In an interview with FOX Business, the Apple executive revealed his optimism on the country’s current condition. Cook believes that things would soon go back to normal.

The numbers are decreasing by the day, and it feels like China has the outbreak under control, the Apple CEO said. Cook also noted that Apple suppliers in the region are back to their operations and are starting to increase production. In fact, he said that the suppliers of the key components of the iPhone in China are on their third phase of returning to normal and phase three on increasing production.

Just recently, Tim Cook shared at the Apple annual shareholder meeting that Apple prioritizes the safety and health of its employees since he believes they are the energy of the company. But, while the executive is optimistic about the current situation in China, Apple reduced its revenue projection for Mar. 2020. South Korea is now the second country to have the most number of reported COVID-19 cases outside China.

Apple Guidance

A week earlier, the Cupertino tech company warned that it might not be able to meet its guidance for the upcoming quarter because of the epidemic. Since the outbreak of the deadly virus in China, Apple has seen billions wiped off its value, according to NBCNews. China contributes around 20 percent of the total iPhone sales of the company.

Additionally, 50 percent of the company’s product build happens in China. But, in his interview with Fox Business, Cook underlined that the company gets parts from anywhere in the world. He added that the iPhone is built everywhere in the world.