Apple Forecasts Slower Sales, Warns of Mac, iPhone, iPad Supply Constraints
Apple’s share price experienced a substantial fall after the company issued a forecast for decelerated sales growth in the current quarter, alongside warnings of considerable supply constraints affecting its Mac, iPhone, and iPad products.
Chief Executive Tim Cook stated that the supply issues are predominantly linked to semiconductor shortages impacting the broader industry. While Apple expects these constraints to predominantly affect the iPad and Mac, he also indicated potential impacts on iPhone availability.
The company projects revenue growth for the quarter ending September to be in the double digits, but slower than the 36% increase recorded in the quarter just ended. This outlook follows a period where Apple reported an impressive $81.4bn (£58.7bn) in revenue for the three months to June, a figure that surpassed analysts’ expectations and represented a significant annual increase, partly attributed to increased consumer spending on devices during global lockdowns.
Despite the robust recent performance, including a near 50% rise in iPhone sales and strong growth across its services division, the forward-looking statement on supply chain challenges and anticipated slower revenue expansion has triggered investor concern. The firm’s ability to navigate the persistent global chip shortage will be critical in the coming months, particularly as it approaches key product launch cycles.
