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Apple says chip shortage reaches iPhone, growth forecast slows

SOURCE / COMPANIES By Reuters Published: Jul 29, 2021 08:03 PM The new Apple store in Sanlitun, Chaoyang district in Beijing Photo: cnsphotoApple Inc said on Tuesday that a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecasted slowing revenue growth, sending its shares lower. Apple executives said revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4 percent growth rate in the just-ended third quarter. Growth will also slow in Apple s closely watched services business, they said. In a conference call with investors, Apple executives also said that while the impact of the chip shortage was less severe than feared in the third quarter, it will get worse in the fourth, extending to iPhone production.

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latimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from latimes.com Daily Mail and Mail on Sunday newspapers.

Elon Musk asking to be Apple CEO allegedly led to profanity-laced tirade from Tim Cook

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appleinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from appleinsider.com Daily Mail and Mail on Sunday newspapers.

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