Apple (AAPL) has issued a profit warning saying it does not expect to meet its revenue guidance for Q1 amid the coronavirus outbreak with total mainland confirmed cases at 73,335, death toll at 1,874 and 1701 cured patients discharged. China Global Times reported the number of patients infected with Coronavirus will likely peak during the second half of February in southern China; nationwide, the peak is seen in in April, according to the central government’s top medical advisor.
Apple (Trading as AAPL) is experiencing a slower return to normal conditions than it had anticipated and said it will provide more information during its next earnings call in April and said the Co. is fundamentally strong and any disruptions to business is temporary.
The Japanese Government Spokesman Suga said they soon aim to start trials using HIV treatment for coronavirus. Prior recent reports noted that HIV treatments have been showing positive signs against infected patients in China-US State Department official stated the incubation period for the coronavirus ranges from 2 to 14 days, with a median of 5-6 days.
Other Major Highlights
Elsewhere, UK PM Johnson and Chancellor Sunak are reportedly mulling cutting the rate of pension tax relief for higher earnings to 20% from 40%, which could raise GBP 10bln per annum, according to the Times.
Copper prices moved in tandem with the risk sentiment and shaved some of the prior session’s gains. Libya’s NOC said its oil production stood at 135,745 BPD on Monday 17th vs. 163,684 on Thursday 13th.
China Trade Body said some customers in Russia, Turkey, Middle East and North Africa have stopped accepting China metals products deliveries amid the virus outbreak.
US Top Trump administration officials are in discussions to reassign deputy national security adviser Victoria Coates to the Department of Energy from the National Security Council, according to sources cited by Axios.