Money
Oh No! Could the world run out of iPhones?
The global chip shortage is about to hit Apple.
The tech giant is burning through its supply buffers, raising concerns that we could soon see a shortage of our favourite Apple products.
It comes on the back of higher sales, and profits for the phone maker, beating Wall Street’s expectations.
Sales in China have doubled to contribute to a total of $6.5 billion in iPhone sales.
Apple Chief Executive Tim Cook said on an investor call that Apple avoided a chip shortage in the fiscal second quarter by burning through supply buffers.
In the fiscal third quarter, the shortage could cost the company $3 billion to $4 billion in revenue, said Chief Financial Officer Luca Maestri.
The shortfalls “affect primarily the iPad and the Mac,”
Tim Cook said, later adding that there could be trouble sourcing semiconductors made with older chipmaking technology.
“We’ll have some challenges in there,”