Apple’s new 5G iPhone family, rumored to be called the iPhone 12, is likely to be delayed over the coronavirus outbreak, according to new information reported by Bloomberg.
Bank of America analysts have suggested that this year’s iPhone release could be delayed by a month, premiering and going on sale in October rather than the usual September date.
It’s also expected that Apple’s new low-cost smartphone, known as the iPhone SE 2 and rumored to be called the iPhone 9, will be pushed back a few months because of weaker demand for new smartphones and supply chain issues.
The phone was originally rumored to be unveiled this month, but now it seems like an April or May release is more possible.
The source added that the release of any new Apple devices would “depend on how production ramps back up in April and May,” but warned that there was no way to predict the ongoing crisis, and that Apple’s investors should brace for more difficult times ahead.
Apple’s stock has suffered in the past several weeks, in line with the rest of the world economy. Apple’s results for its second-quarter are expected to be released next month, with the Wall Street predicting adjusted earnings of around $2.71 per share, and $61.5 billion revenue.
UBS said on Friday that “the risk of lower demand in the near-term is increasing” for Apple, and that the effects would be felt around the world, not just in markets like China.
Apple announced February that it wouldn’t be able to meet its goals for the March quarter because of the ongoing COVID-19 crisis, but that it was monitoring the situation and would offer an update in its earnings call this April. It will be interesting to see how much the virus has impacted Apple’s sales and trajectory for the year ahead in these fast-moving times.
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