Apple warns shareholders of coronavirus precautions ahead of annual meeting
Apple cuts sales targets over coronavirus; Pier One files for bankruptcy
Fox Business Briefs: Apple is blaming the coronavirus outbreak for cutting its sales in the second quarter; Pier One Imports files for Chapter 11 bankruptcy protection.
Apple advised attendees of its upcoming annual shareholders meeting on Wednesday to take precautions amid the global outbreak of coronavirus, according to a report.
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The iPhone maker said it is “following official guidance” from the U.S. Centers for Disease Control and Prevention ahead of the event at Steve Jobs Theater in Cupertino, Calif.. Apple has also consulted with public health experts about precautions.
“We ask shareholders who have traveled to China in February to ensure they have completed the required 14-day quarantine period prior to the meeting in order to attend,” Apple said in a notice to shareholders, according to tech blog 9 to 5 Mac.
CORONAVIRUS PROMPTS FDA TO DETAIL SCREENING OF CHINESE-MADE PRODUCTS
Apple’s warning to shareholders came days after the tech giant said that it was likely to miss its revenue guidance in the second quarter due to coronavirus. The company disclosed that the virus had affected its production capabilities in China and limited consumer demand in the region, which is subject to government-imposed travel restrictions.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 288.08 | -10.10 | -3.39% |
The coronavirus outbreak began in China’s Hubei province and it has since spread to several countries around the world, sparking fears of a global pandemic. More than 2,700 people have died from complications related to coronavirus as of Tuesday afternoon, and more than 80,000 people have fallen ill.
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The outbreak has weighed on U.S. stock indices this week. The Dow Jones Industrial Average dropped nearly 800 points in trading Tuesday after posted a decline of more than 1,000 points on Monday.
Apple’s shareholder meeting is set to begin at 9 a.m. PT on Wednesday.
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