MORE SUPPLY CHAIN PROBLEMS
Apple says supply chain issues have cost the company $6 billion in the fourth quarter of the fiscal year.
“We had a very strong performance despite larger than expected supply constraints, which we estimate to be around $6 billion,” Apple CEO Tim Cook told CNBC.
“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,” he added.
Despite the supply chain issues, the company still made more than $83 billion in revenue, which is up 29 percent from the previous year. Each of the company’s product categories also grew this year.