Mark Gurman, Bloomberg News
Employees wear protective masks as they walk past signage displayed in the window of the Apple Inc. flagship store in Sydney, Australia, on Friday, Sept. 18, 2020. Apple's annual Fall product blitz included new Apple Watches and an upgraded iPad Air. Later this year, the company is expected to unveil several new 5G iPhones. Photographer: David Gray/Bloomberg
, Bloomberg
(Bloomberg) -- Apple Inc.âs latest quarter was a blockbuster, with soaring revenue, record Mac sales, and stronger-than-anticipated iPhone demand. There was only one major snag: The global chip shortage is finally catching up to the company.
On a call with analysts, Chief Executive Officer Tim Cook and Chief Financial Officer Luca Maestri warned that supply constraints are crimping sales of iPads and Macs, two products that performed especially well during pandemic lockdowns. Maestri said this will knock $3 billion to $4 billion off revenue during the fiscal third quarter.