Apple Says Covid-19 Lockdowns in China Loom Over Gross sales

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Apple Inc. cautioned Thursday that the resurgence of Covid-19 in China threatens to hinder gross sales by as a lot as $8 billion within the present quarter—a setback after seeing supply-chain enhancements throughout the first three months of the 12 months.

The steering from the iPhone maker got here Thursday shortly after the corporate posted among the best quarters in its 46-year historical past. The whipsaw of stories despatched the corporate’s inventory on a jolting experience in aftermarket buying and selling—first rising 2%, then falling greater than 5%.

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