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Supply issues cost Apple $6 billion but customers don’t care

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4 years ago

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Supply issues cost Apple billion but customers don’t care

Apple CEO Tim Cook blamed Apple’s fall in revenue over larger-than-expected supply constraints, but experts says customers are unphased

MACRUMORS REPORTER SAMI Fathi ON TICKER NEWS

Apple revenue fell short of Wall Street expectations in its fourth quarter earnings.

However, Apple’s overall revenue was still up 29 per cent and each of its product categories grew on an annual basis.  

Cook still expects Apple to have solid growth by the end of the year. But how will it hit green as the tech giant faces more supply chain woes?

Macrumors reporter Sami Fathi told tickerNEWS Apple continues to grow, and customers will continue to stay loyal to the brand despite its challenges.

“Compared to last year, there is solid growth across the board,” he said.

iPhone sales were up 47 per cent year-over-year, but still came in under Wall Street estimates.

“They did miss expectations, but Wall Street can be pretty tough to satisfy sometimes.”

Apple’s annual revenue for its fiscal 2021 was up 33 per cent from 2020 to $366 billion.

This quarter marks the first time since April 2016 that Apple has failed to beat earnings estimates

“Mac is in this Renaissance moment”

However, Fathi says Apple is stronger than ever when it comes to its product offerings

“If you look at every product category, every single one is I think the strongest it’s ever been, if you look at the Mac, the Mac is sort of in this renaissance moment,” he said.

“Every product category is very strong. We still have the holiday quarter coming up, which is used the very solid quarter for Apple so I’m overly optimistic for what’s income.”

What about supply chain woes?

Cook said the global chip shortages is really impacting product availability and cost Apple around $6 billion in losses this quarter.

Fathi says customers are willing to wait for their new products.

“If you really think about it, in practice, a lot of customers are willing to wait very long times to get their products,” he said.

“I mean, I know people who are still waiting for their iPhones that they ordered weeks ago. So while these you know, shortages are obviously concerning, I think the broader picture is that customers are willing to wait very, very long times to get their products.”

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Tech

‘Superman’ opens DC universe with $122 million debut

“Superman” debuts with $122 million domestically, launching James Gunn’s new DC cinematic era and achieving record box office success.

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5 hours ago

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July 14, 2025

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‘Superman’ opens DC universe with 2 million debut

“Superman” debuts with $122 million domestically, launching James Gunn’s new DC cinematic era and achieving record box office success.

In Short:
– “Superman” premiered, earning $122 million domestically, the highest for a solo Superman film.
– It marks James Gunn and Peter Safran’s first release as DC Studios heads and has strong implications for future strategy.

“Superman” debuted in theatres this weekend, earning an estimated $122 million in domestic ticket sales. This film marks the first release from James Gunn and Peter Safran since they became co-heads of Warner Bros. Discovery‘s DC Comics film and TV unit in late 2022. They have established a 10-year plan to revitalize the studio’s franchises, including new interpretations of Superman and Batman.

Paul Dergarabedian, a senior media analyst at Comscore, noted that the success of “Superman” allows DC Studios to reset its strategy and sets the stage for future developments. The domestic box office for “Superman” is the highest for a solo Superman film, surpassing the $116 million debut of “Superman: Man of Steel” in 2013.

Among DC films, only four have had higher openings: “Batman v. Superman” at $166 million, “The Dark Knight Rises” at $160 million, “The Dark Knight” at $158.4 million, and “The Batman” at $134 million.

Shawn Robbins, director of analytics at Fandango, described “Superman” as a significant summer hit and a strong start for Gunn’s leadership at DC Studios. Globally, “Superman” garnered $95 million in international sales, leading to a total opening estimate of $217 million worldwide.

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OpenAI launching AI-powered browser to rival Chrome

OpenAI to launch an AI-driven web browser, directly competing with Google Chrome and seeking user data access.

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4 days ago

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July 10, 2025

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OpenAI launching AI-powered browser to rival Chrome

OpenAI to launch an AI-driven web browser, directly competing with Google Chrome and seeking user data access.

In Short:
OpenAI is set to launch an AI-powered web browser to compete with Google Chrome, aiming to transform internet navigation and collect valuable user data. This initiative seeks to leverage OpenAI’s technology and user base, potentially affecting Google’s advertising strategy.

OpenAI is preparing to launch an AI-powered web browser aimed at competing with Google Chrome.

Sources indicate this new browser will be released in the coming weeks and intends to transform how consumers navigate the internet.

The browser could provide OpenAI with access to valuable user data, a significant asset for competing against Google, where Chrome plays a crucial role in advertising revenue.

If the browser gains traction among ChatGPT’s 500 million weekly users, it may impact Google’s advertising strategy. The design aims to maintain user interactions within a ChatGPT-like chat interface, streamlining the browsing experience.

This development is part of OpenAI’s broader initiative to integrate its AI services into daily consumer activities.

Forefront of innovation

OpenAI remains tight-lipped about the project, and the sources requested anonymity. CEO Sam Altman has been at the forefront of innovation since the launch of ChatGPT, while OpenAI seeks new growth opportunities amidst fierce competition, notably from Google and others.

The browser will harness the same open-source technology that underpins Chrome and other browsers, while OpenAI has also brought on board key talent from Google’s original Chrome development team.

In a strategic move, OpenAI opted for developing its browser over creating a plug-in, prioritising control over data collection. Google currently maintains more than two-thirds of the global browser market, posing a significant challenge for OpenAI in this new venture.

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Linda Yaccarino resigns as CEO of Elon Musk’s X

Linda Yaccarino resigns as CEO of X following merger with xAI and internal financial conflicts.

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4 days ago

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July 10, 2025

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Linda Yaccarino resigns as CEO of Elon Musk’s X

Linda Yaccarino resigns as CEO of X following merger with xAI and internal financial conflicts.

In Short:
Linda Yaccarino has resigned as CEO of X after the merger with xAI, facing challenges in shifting focus to AI and tensions with the new CFO. Despite some revenue recovery and improved advertiser relationships, ongoing content moderation issues and Musk’s heavy involvement in decisions complicate the platform’s operations.

Linda Yaccarino has announced her resignation as CEO of X, following the merger with xAI. Her tenure has faced challenges, particularly after the integration of the chatbot company into X, which shifted focus towards artificial intelligence over traditional social media growth.

Investor interest has increasingly gravitated towards AI potential. Tensions arose between Yaccarino and new CFO Reza Banki, who was hired to address financial issues and originally replaced Yaccarino’s finance head.

Banki reportedly pressured her regarding spending on celebrity content. Yaccarino viewed the return of some advertisers and the revenue changes resulting from the merger as an appropriate time to step down.

Broader platform

In her post about her departure, she expressed gratitude to Elon Musk for the opportunity to lead and transform X into a broader service platform. Musk acknowledged her contributions through a social media post.

Yaccarino, who took over in 2023, dealt with initial advertiser concerns related to content moderation and Musk’s management style. Despite challenges, including threatening brands to encourage them back to the platform, she made strides in rebuilding ad relationships and fostering new advertising opportunities.

Financial improvements have been noted, with X reporting adjusted earnings growth and revenue recovery efforts reflecting progress. However, the platform continues to deal with content moderation issues, especially after recent controversial comments from the chatbot, highlighting ongoing operational challenges.

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