Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Tim Cook says he's 'optimistic' that China has the coronavirus situation under control

Tim Cook says he's 'optimistic' that China has the coronavirus situation under control

Apple CEO Tim Cook said that he believes that China is getting the situation related to the COVID-19 coronavirus under control. He also said that factories in China that make iPhone parts are reopening. Apple warned last week that it will not meet its March quarter sales forecast because the coronavirus could hurt iPhone supply around the world and lower demand in China.
Apple CEO Tim Cook said on Thursday that he believes that China is getting the situation related to the COVID-19 coronavirus under control.

“I mean, if you look at the numbers, they’re coming down day by day by day. So I’m very optimistic there,” Cook said in an interview with Fox Business.

Although the majority of COVID-19 cases have been in China, officials have started to report declines in new cases in recent days.

Cook’s optimistic remarks are one of the first signs that China’s supply chain has started to get back to work. Apple warned in February that it will not meet its March quarter sales forecast because the coronavirus could hurt iPhone supply around the world, as well as lower demand in China related to the coronavirus.

Apple assembles the vast majority of iPhones and buys a substantial number of parts in China, and factories in the country have been slow to get back to full production after the Lunar New Year holiday because of quarantines and a shortage of labor.

“When you look at the parts that are done in China, we have reopened factories, so the factories are working through the conditions to open. They’re reopening,” Cook said.

However, Cook said that he believes the focus has turned away from China and onto Korea and Italy, which are reporting rapidly rising numbers of coronavirus cases.

“Our supply chain is relatively more important in China, but we have great business and suppliers in Korea, and suppliers in Italy and a great business there as well,” Cook said. “We need to see as that unfolds.”

Apple briefly dipped into bear market territory on Friday, which means that shares were down more than 20% from its all-time high of $327.85 per share on Jan. 29. Apple shares were down more than 1% on Friday.

Cook appeared confident, calling the coronavirus a “temporary condition” and “not a long term kind of thing.” He noted that the lower share prices could be a good thing for Apple, given that it’s currently buying back its own stock.

“Everyone knows we’re buying shares and when the stock is lower you get more shares for the same money,” Cook said.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
JD Vance Warns Europe Faces “Civilizational Suicide” Over Open Borders and Speech Limits
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
×