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Apple Rides 5G iPhone Demand to Soar Past Sales, Profit Targets

Apple Rides 5G iPhone Demand to Soar Past Sales, Profit Targets; Warns of Chip Shortages
Apple avoided a chip shortage in the fiscal second quarter by burning through supply buffers, CEO Tim Cook said.
By Reuters | Updated: 29 April 2021 09:57 IST
Apple raised its dividend 7 percent to 22 cents (roughly Rs. 15) per share
Highlights
Cook said Apple competes against other industries for chipmaking capacity
iPhone devices were the biggest driver of growth
Apple on Wednesday posted sales and profits ahead of Wall Street expectations fueled by 5G iPhone upgrades but warned a global chip shortage could dent iPads and Mac sales by several billion dollars.

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