I thought Apple would be down more after coronavirus news

CNBC’s Jim Cramer said Tuesday he thought Apple‘s stock would be down further after the iPhone maker announced it would not meet its quarterly revenue forecast due to the coronavirus outbreak.

Shares of Apple were down around 2.5%, or roughly $8, on Tuesday. Cramer said on “Squawk Box” he thought the stock would be down about $10.

Apple’s announcement Monday cited coronavirus impacts on both global supply, as well as weaker demand from Chinese consumers.

“I am surprised it’s not down more because it’s not just supply, it’s demand,” the “Mad Money” host said. “Demand has to come down because they don’t do much shopping in China. And supply, it’s not them. It’s supply chain. It’s some of the…