Supply Chain Issues Push Apple to Miss Sales Expectations
News recently came out that Apple missed their revenue expectations and the CEO has suggested that the supply chain issues have contributed greatly to the issue.
Their overall revenue is up 29% on an annual basis and they have seen strong performance despite the supply chain issues. As well, their product categories have grown too.
The chip shortages were the biggest problem contributing to the issue and other manufacturing issues related to the pandemic.
The supply chain issues aren't over yet and they might get worse during the holidays. However, Apple is still expecting that December quarter will be the busiest month for them in terms of revenue.
The chip shortage has caused tremendous issues not just for Apple but for other companies around the world. And some have suspected that the chip shortage will continue into next year.
That problem is still said to be far from over just yet. Then there are others who suggest we might have seen the worst of it so far, we will have to wait and see. For now, there are still many companies that are struggling to deal with that chip shortage issue in the market.
not financial advice