Credit: WikiMedia Commons
During Wednesday s earnings call with investors, Apple Chief Financial Officer Luca Maestri said that Apple would not provide specific forecasts for its Q3 2021, citing continued uncertainty around the world in the near term. However, Maestri did share a few insights about the upcoming quarter.
For example, Apple expects strong double-digit growth in the June quarter. However, Maestri said that the typical sequential revenue decline from the March quarter to the June quarter will be steeper in 2021 than in prior years.
Maestri cites the later launch timing and strong demand for the iPhone 12 and iPhone 12 Pro lineups. Because of that, he said, the iPhone only achieved supply and demand balance in the March quarter later than usual.
The global chip shortage has come for iPads and Macs kitv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitv.com Daily Mail and Mail on Sunday newspapers.
Global chip shortage hits Apple, BMW, Ford as crisis worsens
Peter Vercoe, Bloomberg News VIDEO SIGN OUT
The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple Inc. and Samsung Electronics Co. in flagging production cuts and lost revenue from the crisis.
In a dizzying stretch of 12 hours, Honda Motor Co. said it will halt production at three plants in Japan for around five to six days next month; BMW AG flagged it will pause Mini car production at its Oxford, England, factory for three days; and Ford Motor Co. reduced its full-year earnings forecast due to the debilitating chip shortage, which it sees extending into next year.
The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple Inc. and Samsung Electronics Co. in flagging production cuts and lost revenue from the crisis. In a dizzying 12-hour stretch, Honda Motor Co. said it will halt production at three plants in Japan; BMW AG cut shifts at factories in Germany and England; and Ford Motor Co. reduced its full-year earnings forecast due to the scarcity of chips it sees extending into next year. Caterpillar Inc. later flagged it may be unable to meet demand for machinery used by the construction and mining industries.
by CNN April 29, 2021 .
Even America’s biggest company can’t save itself from a global shortage of crucial computer chips.
Apple just had a massive quarter thanks to sales of new iPhones, iPads and MacBooks, with revenue nearly hitting $90 billion. Sales of iPhones reached nearly $48 billion, a 65% increase over the same quarter last year, as consumers continued shelling out the big bucks to upgrade to Apple’s first 5G smartphone lineup.
But that wave of demand is now coming up against major supply chain issues resulting from the pandemic. In a call with analysts, Apple Chief Financial Officer Luca Maestri said that the company expects revenue will be $3 billion to $4 billion lower this quarter thanks to “supply constraints.”