Apple’s Tim Cook Calls Coronavirus a ‘Challenge’ at Shareholder Talk
- CEO hints wearables sales $40 billion; equal to Marriott, Visa
- Company plans to open retail stores in India next year
Tim Cook
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Apple Inc. Chief Executive Officer Tim Cook called the coronavirus a “challenge” for the iPhone maker during a pep talk for shareholders at the company’s annual meeting.
The effects of the virus, which have closed factories and stores throughout China, pose significant issues for the technology giant. Apple produces hundreds of millions of devices each year in China. Earlier this month, the company said it wouldn’t meet its revenue forecast of more $63 billion for the current quarter, citing iPhone supply constraints and lost retail sales in China.