Illustration by Alex Castro / The Verge

In a rare investor update on Monday, Apple said the global effects of the coronavirus outbreak are having have a material impact on the company bottom line. The company does not expect to meet its own revenue guidance for the second quarter due to worldwide iPhone supply being “temporarily” constrained, as well as the impact of store closures in China.

All of Apple’s iPhone manufacturing partner sites have been reopened but are “ramping up more slowly than we had anticipated,” which means that fewer iPhones than expected will be manufactured. As a result, “[t]hese iPhone supply shortages will temporarily affect revenues worldwide,” says Apple.

Regarding Apple’s retail presence in China, the company said that it is “gradually reopening…

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