• By The Financial District

APPLE EARNINGS SOAR BUT CHIP SHORTAGE THREATENS FIRM

Apple Inc.’s 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, Mark Gurman reported for Bloomberg News.

EON Reality is the global leader in Augmented and Virtual Reality-based knowledge and skills transfer for industry and education.

The Cupertino, California-based technology giant didn’t provide specific revenue guidance for the fiscal third quarter. Analysts estimate revenue will top $68.7 billion, according to data compiled by Bloomberg mostly before Wednesday’s results.


In Apple’s fiscal second quarter, the Mac generated a record $9.1 billion in sales, while the iPad topped Wall Street expectations with $7.8 billion in revenue.


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.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

Maestri said this will knock $3 billion to $4 billion off revenue during the fiscal third quarter.


The executives blamed “semiconductor shortages that are affecting many industries” and “very, very high” demand for iPads and Macs. Cook said the component shortages were for “legacy nodes,” implying the setbacks are for products using older generation processors.


He wouldn’t specify how long the shortages will last but noted that Apple did not experience this problem during the previous quarter.



WEEKLY FEATURE : TRUEMONEY PHILIPPINES BUCKS THE COVID-19 CHALLENGE

Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.
EON Reality is the global leader in Augmented and Virtual Reality-based knowledge and skills transfer for industry and education.