Apple Supply Chain Woes May Fade Quicker Than Expected, Nomura Says
By Yasin Ebrahim
Investing.com – Apple (NASDAQ:AAPL) recently warned it would miss its second-quarter revenue guidance due to the coronavirus outbreak, but one analyst sees signs of a faster-than-expected recovery in the iPhone maker's supply chain.
Apple rose 4%, taking its rally for the week above 9% so far, keeping it on track for its biggest one-week percentage gain since May 2018.
Apple manufacturing partner Hon Hai Precision Industries said it expects its Chinese plants to begin operating normally by the end of March, Nomura said in a note to clients and added that the news was "slightly better than hoped and thus a positive for Apple."
But the bank warned, however, that the impact of the virus on demand remained uncertain.