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Apple blames chip shortages and slow supply chain for disappointing quarter
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Apple shares slid slightly on Thursday after the company announced lower than expected revenue in the fourth quarter of 2021.
The company posted a quarterly revenue of $83.4bn, up 29% year over year but still short of analyst predictions of $84.85bn.
CEO Tim Cook attributed those shortcomings to supply chain issues, citing industry-wide chip shortages and “Covid-related manufacturing disruptions in Southeast Asia”.
“We had a very strong performance despite larger than expected supply constraints,
Read more on theguardian.comAbout this in other media
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Japan Economy Shrinks, Hit by Supply-Chain Troubles wsj.com /3 years ago
Top tech investor Paul Meeks won’t put new money to work in Apple and other FAANG names, blames chip shortage that could extend through 2023 cnbc.com /3 years ago
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