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Apple slides after supply shortages hurt sales forecast
['Macdailynews Webmaster', 'David Larsen', 'Mr J']
MacDailyNews
Apple tumbled in late trading after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated.
The supply crunch has also led to extended wait times on key computers like the Mac mini and Mac Studio.
The constraints will affect the iPhone, Mac and iPad in the September quarter, Chief Financial Officer Kevan Parekh said during the call.
“This is not a regular supply issue, it’s a demand forecast issue to be candid,” Cook said during the company’s conference call with analysts on Thursday.
iPhone revenue jumped 21.7% to $54.25 billion, while Mac sales rose sharply as well.