Thursday, October 28, 2021
The situation is likely to worsen
Delivery bottlenecks cost Apple billions
The crisis in the semiconductor market is now catching up with Apple. The iPhone group recorded significant growth, but missed even more optimistic forecasts by analysts. In addition to bottlenecks in the supply chains, failures in production are also noticeable.
The global supply bottlenecks are spoiling Apple’s business. The situation will worsen again in the Christmas business, said company boss Tim Cook Reuters. The chip crisis is now affecting most Apple products. The outlook on the stock market was shocking. After hours, Apple shares fell five percent. So far this year the paper has gained 15 percent.
For the quarter that started on September 26th, Cook expects an increase in sales. Analysts expect an increase of 7.4 percent to almost 120 billion dollars. Cook assumes that the bottlenecks will depress sales by around six billion dollars. Amazon also expects a significant impact on the Christmas business. In the fourth fiscal quarter ended September 25th, revenues climbed 29 percent to $ 83.4 billion, thanks in part to surging demand in China. The iPhone 12 models in particular, as well as Mac computers and iPads, were in demand at a time when more and more people were learning and working from home.
According to Cook, however, the delivery bottlenecks in the quarter were greater than expected – as were production difficulties in Southeast Asia due to the Corona crisis. Even so, profits rose 62 percent to $ 20.6 billion. For many quarters, Apple has been expanding its various subscription offers such as Apple TV + or music streaming. In the meantime, more and more customers are using it. Cook said the group now has 745 million payment customers across its various platforms, after 700 million in the previous quarter.