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Apple's production likely to be impacted as chip shortage worsens

Friday, July 30, 2021

/ by mansuralisaha

 

News Cover: global semiconductor shortage, that has currently hit automakers majorly has started hitting tech giant as well apple is the latest victim. now apple has said a global chip shortage, that has bitten into its ability to sell macs and pads will start to affect iPhone production and forecasts slowing revenue growth going forward declaration has sent its shares lower apple executive said revenue for current fiscal overall for the fourth quarter. will grow by double digits but be below 36.4 percent growth rate added in third-quarter growth will also slow in apple's closely watched services businesses in a conference call with investors apple executives also said while the impact of chip shortage was less severe than feared in the third quarter it will get worse and fourth extending to iPhone production shares. 

of apple whose valuation has more than doubled in about three years to nearly 2.5 trillion dollars were down 1.7 to 144.24 in an after-hours trading call earlier in the day Apple reported third-quarter sales and profits that beat analysts expectations as consumers bought premium versions of its five gi phones and signed up for subscription services china sales were up by 58 to 14.76 billion dollars in the quarter which ended on June 26th driven by better than expected iPhone sales total revenue was hit 81.43 billion dollars above analyst expectations of 73.3 billion dollars during investor call CEO Tim cook said chips affected by shortages are made with older tech but are still needed as supporting parts to make companies flagship device the iPhone cook, however, declined to predict whether shortages would last into apple's fiscal first-quarter when it typically sees biggest iPhone sales.

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