Chief executive Tim Cook said the impact will be even worse in the current holiday season.
Supply Chain Woe to Apple Inc., which sold $ 6 billion in sales in the fourth quarter of the fiscal year, missed out on Wall Street expectations, and CEO Tim Cook said the impact on the current holiday season will be even worse.
Cook told Reuters on Thursday that the quarter had ended on September 25 with “more supply restrictions” and that there were production disruptions related to the cholera epidemic in Southeast Asia. Although Apple saw “significant improvements” in Southeast Asian facilities in late October, the chip shortage continued and is now affecting “most of our products,” Cook said.
“We are doing everything we can to get more. [chips] And we can do everything we can to make sure we move as fast as we can, ”Cook said.
Cook said the company expects more than a year to grow in the first quarter of December. Analysts expect a 7.4 percent growth to $ 119.7bn.
“We are planning a strong demand growth year after year, but we are also forecasting more than $ 6 billion in demand,” Cook said.
Shares of California, a U.S.-based company, fell nearly 5 percent this year on Thursday. The downturn in Apple shares could make Microsoft Corporation the world’s most expensive company after it was linked to Microsoft’s cloud computing business.
Apple products are up for grabs in the fourth quarter of the budget year, which is a holiday before the end of the year.
Apple earned $ 83.4 billion and $ 1.24 billion in the fourth quarter, respectively, while analysts’ estimates were $ 84.8 billion and $ 1.24, according to IBES.
The results were led by the iPhone 12 models, which sold out more than expected, and during the outbreak, strong Mac computers and iPads sold at home during the fiscal year.
Apple announced to investors in July that chip restrictions would hit the iPhone and iPad lineup for the first time in the fourth quarter.
Apple released its results shortly after Wall Street’s quarterly sales forecast was delayed, citing labor shortages and global supply chain issues.
She misses
Apple missed out on two key categories. Apple’s fourth-generation iPhone sales are estimated at $ 38.9 billion and $ 41.5 billion, according to Refinitiv.
Cook said older technology chips are a key supply limitation. Apple says it is uncertain whether the shortage will ease after the holiday season.
“Most of the things we do are leading. [chip manufacturing] Nodes, but all products have some old nodes in them. And so on [shortage] To be continued [fiscal] Q1, and we will see what it looks like. It’s very difficult to call, ”Cook told Reuters.
Reproductive data shows that the company’s fast-growing segment, which includes fast-growing sectors such as AirPode wireless headphones, is worth less than half a billion dollars, according to analysts.
Other parts are better displayed. IPad and Mac sales were $ 8.3 billion and $ 9.2 billion, compared to $ 7.2 billion and $ 9.2 billion, according to Refinitiv.
The company’s service segment – which owns the app store business – had $ 18.3 billion in sales, a 26 percent increase, and analysts expected $ 17.6 billion. Cook told Reuters news agency that Apple now has 745 million paid subscribers, compared to the 700 million it announced a quarter ago.
Other bright spots in the company’s products were sales in China, from 83 percent to $ 14.6 billion.
The company said it had returned $ 24 billion to shareholders in the quarter.
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