Chip shortage set to further affect growth: Tim Cook

San Francisco: Apple, which took about a massive $6-billion hit in its September quarter owing to supply constraints, has said that the festive quarter may see a larger impact of chip shortage that is affecting the entire industry.
In an earnings call late on Thursday, Apple CEO Tim Cook said that the primary cause of supply-chain-related shortages will be the chip shortage in the ongoing quarter.
“By the time we finish this quarter, the constraints will be larger than the $6 billion that we experienced in Q4 (July-September period),” he told the analysts.
Apple faced about a $6-billion hit in the supply constraints and it affected the iPhone, the iPad and the Mac devices in its Q4 earnings.
Also Read Next Apple iOS update to identify creepy apps tracking your data “There were two causes for this in Q4. One was the chip shortages that you’ve heard a lot about from many different companies throughout the industry. And the second was Covid-related manufacturing disruptions in Southeast Asia,” Cook informed.
The Covid disruptions have improved materially across October to where we currently are, Cook said.