Apple’s iPhone suppliers are said to be in the 30-50 percent range

(U.S. Commerce News) Apple has cut its revenue target. This is the second time since January 2019 that apple has lowered its revenue target. In a Feb. 17 statement to investors, Apple said the company expects to miss its revenue target for the quarter because of a global shortage of iphones due to the outbreak and lower demand in China.

In addition, according to media reports, apple may miss plans to release a low-cost version of the iPhone this spring. Apple warned on Monday that it was unlikely to meet its March quarter sales forecast because of market uncertainty.

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