MW: Apple’s coronavirus warning wasn’t a total surprise, but magnitude rattles Wall Street

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MARKETWATCH writes:

Apple Inc. realized Wall Street’s worst fears with a U.S. Presidents Day holiday warning that the company won’t be able to meet its fiscal second-quarter financial guidance due to the coronavirus in China.

“Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated,” Apple AAPL, -1.83%  said in a Monday statement. About 15% of Apple’s revenue derives from China and many of its products including the iPhone are ...