Apple's revenue in the fourth quarter of 2021 fell short of expectations, which Apple CEO Tim Cook said was due to supply shortages of iPhones, iPads and Macs.
In an interview with CNBC explained Cook said the supply shortages cost Apple around $6 billion.
We delivered a very good result despite larger than expected supply constraints, which we estimate at about $6 billion. The supply constraints were caused by the industry-wide chip shortages that have been talked about a lot and by COVID-related production disruptions in Southeast Asia.
Tim Cook expects “solid sales growth” in the December quarter
In the final months of the year, Apple struggled with long delivery times for several products, including Macs and iPads. At the launch of the iPhone 13, available models quickly sold out, and Apple was unable to keep up with demand. The same was true for the Apple Watch Series 7. For the December quarter, Cook expects "solid revenue growth" compared to the previous year. However, Apple will continue to struggle with supply issues. COVID-related manufacturing issues have "improved greatly," but Cook says that the chip shortage "continues to persist." According to the Apple CEO, it's older chips that are in short supply, rather than the newer A- and M-series chips used in newer Apple devices. (Photo by Unsplash / Carles Rabada)
