Following Apple’s update for investors earlier this afternoon, Tim Cook has sent a memo to employees further addressing the coronavirus situation. In the memo, obtained by Bloomberg, Cook explains that Apple’s “return to normal” has been slower than anticipated.
Much of Cook’s memo reiterates what Apple told investors in an update this afternoon. The Apple CEO explains the company’s “paramount concern” is with those who make up its employees, partners, customers, and suppliers in China. Cook also recognizes the teams who have been working to manage Apple’s coronavirus response “with diligence and thoughtfulness.”
The ultimate message in Cook’s memo to employees is the same as the message to investors: “Apple is fundamentally strong, and this disruption to our business is only temporary.”
In the letter to investors earlier today, Apple said that it would not meet the revenue guidance it provided for Q2 2020. The company had forecast between $63.0 billion and $67.0 billion, but it no longer expects to fall within that range. Apple has not provided an updated guidance range as of now.
Apple attributes this to two main reasons: worldwide constraints for iPhone supply and demand for Apple products within China due to coronavirus. Read our full coverage here.
You can read the full memo memo, which was obtained by Bloomberg, below:
The response to COVID-19 has touched the lives of so many in the Apple family, and I want to thank everyone for their dedication, empathy, understanding, and care. Today, we more than doubled our donation to support the historic and global health response.
Our paramount concern is with the people who make up Apple’s community of employees, partners, customers, and suppliers in China. I also want to recognize the many people across our teams who have been working around the clock to manage Apple’s global COVID-19 response with diligence and thoughtfulness.
Corporate offices and contact centers have reopened across China, and our stores are starting to reopen, but we are experiencing a slower return to normal conditions than we had anticipated. This afternoon, I shared this update with our community of shareholders and investors to note that we do not expect to meet the revenue guidance we provided for the March quarter. Outside of China, customer demand across our product and service categories has been strong to date and in line with our expectations. Apple is fundamentally strong, and this disruption to our business is only temporary.
Our first priority – now and always – is the health and safety of our employees, supply chain partners, customers, and the communities in which we operate. Our profound gratitude is with those on the front lines of confronting this public health emergency.
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