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Supply issues cost Apple $6 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


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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Facial recognition has been used a million times by U.S. police



Controversial facial recognition has been used a million times by police to help track criminals

As facial recognition becomes more prominent, the founder of tech firm Clearview says his company has run nearly a million searches for U.S. police.

It’s also been revealed the company has scraped 30 billion images from platforms such as Facebook and Instagram, taken without users’ permissions.

The company has been fined numerous times in Europe and countries like Australia for breaches of privacy laws.

In the U.S., critics say the use of Clearview by authorities puts everyone into a “police line-up”.

The company’s high-tech system allows law enforcement to upload a photo of a face and find matches in a database comprising of billions of images it has collected.

It then provides links to where matching images appear online.

The tool is considered to be one of the world’s most powerful and accurate.

While the company is banned from selling its services to most U.S. companies, there is an exemption for police. #trending #featured

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Baidu shows off A.I.-powered chatbot Ernie



The event was meant to be livestreamed, but there was strong demand from companies to test the bot

Chinese search engine Baidu has shared pre-recorded videos of its A.I.-powered chatbot Ernie.

Revealing the bot performing more advanced tasks than at its launch two weeks ago.

While the videos were shown during a closed-door meeting, images shared by a Baidu spokesperson appeared to show significant developments.

This included summarising financial statements and producing powerpoint presentations, as well as producing travel itineraries.

The videos were shown to the first batch of companies that are testing an industry-focused version of the chatbot.

Ernie is considered China’s closest equivalent to U.S.-developed ChatGPT.

The meeting was originally meant to be a livestreamed product launch open to the media and public.

But the format was changed to prioritise what Baidu said was the “strong demand” from over 120,000 companies that had applied to test the bot.

More companies will be able to sign up to test the industry-focused version of the Ernie bot starting on March 31.

Tests conducted show that the regular version has a good command of the Chinese language.

However, it produces factual errors and avoids answering political questions.

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Another nation bans Huawei from 5G network



Germany has joined Australia, Japan, the United Kingdom and the United States to stop the tech company

China has blasted Germany over the nation’s reported plan to ban Huawei from the country’s 5G network.

In Berlin, the Chinese embassy said it is “very puzzled” and “strongly dissatisfied” by the move.

Diplomats believe the decision has been made by Germany’s government without any factual basis.

Adding, the move violates German economic laws and the principles of fair competition.

The reported ban follows similar moves made by Australia, Japan, the United Kingdom and the United States.

Hugh Odom from Vertical Consultants gave us the details.

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