The coronavirus pandemic is causing major disappointments for many across the world and now many who have been waiting for Apple’s next iPhone may have to wait longer.
According to a report from the Nikkei Asian Review, the tech giant may be considering delaying its next iPhone launch by months. Shares of Apple closed down after the report despite trading up most of the day on Wednesday.
Shares closed at $245.52, down .55% after it was positive for most of the day. The stock hit a high of $257.89 during intraday trading.
Since 2011, Apple has been launching its new iPhones in September or October. A successful launch of the phones played a big part in the company’s revenue.
According to the Nikkei report, Apple is considering a delay to its iPhone launch by “months” because of issues related to consumer demand during the COVID-19 coronavirus crisis and the aftermath. The report also said that the new iPhone will support 5G networks, and that has raised the pressure at Apple for the device to be a hit.
Apple has a current shelter in place in order at its headquarters in Silicon Valley and engineers and corporate employees are working from home. Nikkei has reported that until this ends, Apple might not be able to firm up its iPhone plans.
It was recently that JPMorgan also predicted that the company would be delaying its iPhone launch by 1-2 months.
Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) and have not been compensated for this article.