Apple results hit by supply chain woes

CEO Tim Cook says holiday quarter impact will be worse

Apple CEO Tim Cook said the quarter ended September 25 had "larger than expected supply constraints" as well as pandemic-related manufacturing disruptions in Southeast Asia. File Picture

Supply chain woes cost Apple $6bn in sales during the company's fiscal fourth quarter, which missed Wall St expectations, and chief executive Tim Cook said that the impact will be even worse during the current holiday sales quarter.

Mr Cook said the quarter ended September 25 had "larger than expected supply constraints" as well as pandemic-related manufacturing disruptions in Southeast Asia. While Apple had seen "significant improvement" by late October in those Southeast Asian facilities, the chip shortage has persisted and is now affecting "most of our products," Mr Cook said.