Tim Cook at the iPhone 11 Pro eventSource: Apple

What you need to know

  • Bloomberg has leaked an internal memo from Tim Cook to Apple staff.
  • The memo reveals that the coronavirus has caused a "slower return to normal" than anticipated.
  • Cook expresses that its effect is only temporary and thanks everyone for their work.

Earlier today, Apple released a statement to its investors that the company will miss its Q2 earnings guidance due to the impact of the coronavirus across its supply chain. Now, Bloomberg has obtained an internal memo that CEO Tim Cook sent to employees earlier today that also sheds some light on the effect that the virus has had on the company.

In the memo, Cook expressed his appreciation to everyone at Apple for their work in addressing the matter, and also mentioned that the company will be doubling its monetary efforts in fighting against the virus.

He also confirmed that "corporate offices and contact centers have reopened across China", and that the company's retail stores are also beginning to reopen to the public, but that Apple is experiencing a "slower return to normal conditions" than the company had anticipated.

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Cook goes on to assure employees that this impact is only temporary and that "Apple is fundamentally strong". He closes by stressing that the company's first priority remains "the health and safety of our employees, supply chain partners, customers, and the communities in which we operate".

The entire leaked memo is below.

Team,

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.

Tim

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