Apple warned earlier this year that it would experience a slump in iPhone sales as the coronavirus upends its supply chain and its biggest markets. But so far the impact appears muted.
Apple stock initially jumped 2% in after-hours trading following the earnings report, but then dropped to nearly 2% below its Thursday closing price.
The company began facing the fallout from the coronavirus early on, as the pandemic spread through China, where the bulk of iPhone manufacturing takes place.
