Mercedes, Volkswagen, VDL and Sony, among others, previously announced that they can get fewer chips than they want. Apple now says it’s being hit more than it previously expected. As a result, the group can make and sell fewer iPhones, iPads and Mac computers than it wants.
The shortage of chips will only increase in the coming months, warns Apple CEO Tim Cook. In any case, the chip shortage persisted in October. And to think that the last months of the year are the most lucrative for Apple. After all, many consumers buy and give each other gifts at Christmas, including Apple products.
Shortage cost 6 billion in turnover
The chip shortage already cost Apple $6 billion (5.2 billion euros) in sales from July to September. Still, Apple’s revenue rose nearly 29 percent to $83.4 billion. At the bottom of the line was a profit of no less than 20.6 billion dollars (17.7 billion euros).
Turnover was slightly less than analysts had expected, but profits were not that bad. The large profit increase is partly due to the increase in turnover from services, which have a higher profit margin than, for example, iPhones and Macs.
Expect record turnover
For the months of October to December, Apple is counting on ‘solid’ growth compared to the same period a year earlier, despite chip shortages. As a result, Apple will reach record sales.
Still, investors were disappointed last night after the figures were released. Apple’s stock price fell more than 3 percent. With a total market capitalization of more than $2.5 trillion (2500 billion), Apple is still the most valuable company in the world, aside from the Saudi state oil company Saudi Aramco.