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Apple says Covid-19 lockdowns in China are squeezing sales

Apple Inc. warned Thursday that the resurgence of Covid-19 in China threatens to hinder sales by as much as $ 8 billion in the current quarter – a setback after seeing improvements in the supply chain in the first three months of the year.

The guidance from the iPhone maker came Thursday shortly after the company announced one of the best quarters in its 46-year history. The news’s whip saw sent the company’s stock on a shaky ride in aftermarket trading – first rising 2%, then falling more than 5%.

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