Apple-Meta (Facebook) rivalry has a chance to become extremely nasty – PhoneArena

Oct 31, 2021, 1:07 PM 1 The global chip shortage and issues with the worldwide supply chain are finally having an impact on Apple according to Bloomberg’s Mark Gurman in his weekly Power On letter to subscribers. This past week, Apple reported its fiscal fourth-quarter results and the results for the entire fiscal year. For the quarter, iPhone sales hit $38.87 billion for a 47% year-over-year gain, and for the year handset sales reached $191.97 billion for a 39.33% annual increase.The company reported revenue of $83.36 billion for the fiscal fourth quarter and while that was a 29% gain year-over-year, it failed to meet Wall Street’s expectations. As Gurman correctly points out, Apple would have hit a record $90 billion in quarterly revenue if not for the aforementioned problems. This allowed Apple CEO Tim Cook to state that the shortages weren’t the result of anything that Apple had control over.Analysts are beginning to drop their estimates of Apple’s fiscal first-quarter revenueCook said that Apple has patched up the problems it was having with its supply chain, but the global chip shortage continues to be an issue. And while Apple’s shortfall for the previous quarter amounted to $6 billion, the stakes…
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