Apple Warns More Supply Chain After iPhone 13 Drives Revenue Surge
Apple company warned to continue the struggle with supply chain disruptions as it ramps up for an expected holiday shopping crunch following the release of apple 13 editions and Mac computers.
iPhone sales jumped nearly 47 % in the three months ended September 25. the company said the sales could have been higher if not for the continued spread of covid-19. Well, Apple led to the more limited number of products that could make and ship to customers.
The CEO Tim Cook said the company missed out on as much as $6 billion as a result of constrained supplies. The company expects supply constraints to continue through the holidays. Luca Maestri said Apple set new sales records during the holiday shopping season.
Large retailers like Target, Best Buy, Amazing have started rolling out before Black Friday Deals before Halloween.
The newly launched products are already on backorder, and the company is quoting shipping times for new iPhones into November and Macs into December.
Apple’s fiscal fourth-quarter launches highly anticipated products like Apple Watch Series 7, iPad mini, etc. The company tallied $38.8 billion in iPhone sales and up from $26.4 billion the same time a year. Apple stuck to its typical schedule of releasing new iPhones in September.
Apple notched profits of $20.5 billion and translated to $1.24 per share in profit, which was itself was up more than 28% from the $64.7 billion reported last year.
Apple’s stock closed regular trading up 2.5 % to $152.57 per share. Apple’s iPad sales jumped 21 to $8.2 billion. its segment called ‘home, segments, wearables’ that includes the HomePod Mini, Apple Watch jumped more than 11% to nearly
$8.8 billion. Sales are greater in China and doubled to $14.5 billion from the year earlier. Besides, American jumped 20 % and Europe 23 %, and Japan 19 %.