Apple sales miss expectations, CEO says supply chain issues cost company $6 BILLION
10/28/2021- 6:47 p.m.
Apple sales miss expectations, CEO says supply chain issues cost company $6 BILLION
The company’s revenue fell short of expectations in its fiscal fourth quarter on Thursday, which CEO Tim Cook attributes supply constraints on Apple’s products.
“The supply constraints were driven by the industry-wide chip shortages that have been talked about a lot, and Covid-related manufacturing disruptions in Southeast Asia,” Cook told CNBC.
However Apple’s overall revenue was still up 29% on an annual basis and each of its product categories have grown year by year.
