Apple shares were down 1.8% Tuesday, a day after the iPhone maker warned that it does not expect to meet its own guidance for the March quarter because of the impact from the coronavirus.

The outbreak of the virus, which has killed over 1,800 people, also led to China's new year holiday being extended and factories and retail stores being shut for a longer period of time.

Apple said Monday there was "a slower return to normal conditions than we had anticipated" pointing to issues around its supply and demand.

The U.S. technology giant has large exposure to China, with around 15% of revenue coming from the region and most of its products, including the lucrative iPhone, being made there.

Apple said all its manufacturing facilities have reopened in China but are "ramping up more slowly than we had anticipated" leading to "iPhone supply shortages."

All of its retail stores there have been closed with some still remaining shut. The ones that have opened again are operating in a limited way with "very low customer traffic."