AAPL Apple Inc

By Colin Kellaher

Shares of Apple Inc. fell more than 3% in premarket trading Tuesday after the tech giant warned that it won't meet its revenue projections for the current quarter due to the coronavirus outbreak.

Apple, which had previously forecast fiscal second-quarter revenue of $63 billion to $67 billion, on Monday said it will fall short of those figures due to limited iPhone production for worldwide sales and lower demand for its products in China.

The Cupertino, Calif., company didn't give a new revenue estimate for the quarter, saying it will provide more information during its next earnings call in April.

Apple shares, which closed Friday at $324.95, were down 3.3% to $314.19 in premarket trading Tuesday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 18, 2020 06:41 ET (11:41 GMT)

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