There is no American company in China that makes as much money as Apple. While few people can make as much money at all, Apple has racked up $44 billion in revenue in Greater China during the fiscal year 2019, primarily from selling the iPhone. Thus, we can say that this is more than the world sales of United Airlines and Nike, and about the same amount as Tencent, the national technology giant. Few countries have the right to shape Apple's future as much as possible in China.
The risk that has gripped the entire country is doing just that, harming iPhone manufacturing and sales in Apple's second-largest market. Most of the migrant workers on whom Apple and its contract manufacturers depend have still not returned to their jobs, as the government restricts the movement of people. Consumers have also not yet returned to the streets. As a result, on February 17 Apple warned investors that the company will miss the quarterly income forecast. After this announcement, the company's shares, which have been on the rise since last summer, fell by almost 2%.
The risk that has gripped the entire country is doing just that, harming iPhone manufacturing and sales in Apple's second-largest market. Most of the migrant workers on whom Apple and its contract manufacturers depend have still not returned to their jobs, as the government restricts the movement of people. Consumers have also not yet returned to the streets. As a result, on February 17 Apple warned investors that the company will miss the quarterly income forecast. After this announcement, the company's shares, which have been on the rise since last summer, fell by almost 2%.
