(Reuters) – Shares of Microsoft Corp (MSFT.O) fell 4% on Thursday after the company warned of weakness in its PC business after a hit to its supply chain from the coronavirus outbreak, echoing similar statements from Apple Inc (AAPL.O) and HP (HPQ.N).
FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of Microsoft logo in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration
The selloff in shares wiped off nearly $50 billion from Microsoft’s market value on a day broader markets tumbled about 2% on rising fears of a global pandemic.
The virus has infected about 80,000 people, killed nearly 2,800 and spread to 44 countries, and is believed to have originated in the Chinese city of Wuhan late last year.
Microsoft said on Wednesday its supply chain was taking longer to return to normal operations than expected, and its Windows and Surface computers had taken a bigger hit than feared.
The impact of the fast-spreading virus has taken…
Source Reuters Tech News
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