The supply chain crisis has officially come to Apple, trimming an estimated $6 billion off the company’s record Q4 sales. Analysts had anticipated quarterly revenue of $84.8 billion, but Apple returned $83.4 billion. It is worth noting, however, that this was still a new Q4 record.
What’s going on with the supply chain?
The company acknowledged the headwinds during its Q4 financial analyst call on Thursday. Apple CEO Tim Cook described three prongs to the problem: COVID-related disruption to the supply chain, increased freight costs, and silicon shortages — particularly of “legacy nodes.”