It's being reported today that Foxconn Technology Group, Apple’s main iPhone assembler, said it would resume normal production in mainland China by the end of this month and that more than half its seasonal workforce had restarted work following the coronavirus outbreak.

Taiwan-based Foxconn, however, said that it was still unable to predict the virus’ actual impact on its full-year results.

“Prevention of outbreak, resumption of work and production are our top priority,” company chairman Liu Young-way told an online investor conference on Tuesday.

The flu-like coronavirus, which originated in China late last year and can be transmitted from person to person, has spread to more than 60 countries. It has infected over 86,000 people and killed more than 3,000 people, the majority in China.

On Tuesday, Foxconn’s Liu Young-way sought to reassure investors as he indicated there were no big problems with the supply chain and that the company was helping parts suppliers resume work. For more read the full Reuters report.

Yesterday Apple enjoyed a massive rally where they gained back 9.3% or over $25/share.  Oppenheimer analyst Andrew Uerkwitz wrote in a client note to client: "Our limited checks indicate Apple will prove more resilient than others."

Yesterday Apple enjoyed a massive rally where they gained back 9.3% or over $25/share.  Oppenheimer analyst Andrew Uerkwitz wrote in a client note to client: "Our limited checks indicate Apple will prove more resilient than others."