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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 through the first three months of the 12 months.

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

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