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Apple loses $ 6 billion on chip shortage

Apple loses $ 6 billion on chip shortage

Apple announced that it posted strong earnings in its fiscal fourth quarter of 2021, with all-time highs for its Mac services and divisions. More specifically, the company said a turnover of 83.4 billion dollarsa 29% increase on an annual basis and earnings per share of $ 1.24. Apparently, however, the proceeds were lower than Wall Street expectations, set at 84.85 billion dollars.

Apple: turnover under 6 billion due to chip shortage (and more)

While Apple’s revenue has grown, it’s still $ 6 billion below expectations. The reason? Chip shortages and manufacturing supply chain constraints had a clear impact on financial results this quarter. “We had a very strong performance despite more complex than expected supply constraints, which we estimate to be around $ 6 billion,” said CEO Tim Cook. Indeed, Apple has already said it expects a bigger loss in December.

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And all this despite the fact that the Cupertino company has already launched numerous products, including the iPhone 13 and 13 Pro, the Apple Watch Series 7, a new iPad mini and the highly anticipated MacBook Pro. Indeed, even if the growth rates are remarkable, Cook’s company is facing serious problems in the supply chain. Not surprisingly, high-end iPhones are hard to find in stores, and deliveries of the new MacBook Pros already seem set to delay. In short, Apple is not facing a simple moment, despite its turnover has risen significantly. But that doesn’t mean it will continue to do so in the future. Indeed, in the short term the situation could reverse, and the company will lose more than it has so far.