In its recent profitability report for the fourth fiscal quarter of 2021, Apple announced robust profitability with all-time highs in its services and Mac divisions.
According to the company’s report, it recorded revenue of $83.4 billion, up 29 percent year over year, and earnings per share of $1.24. This falls short of Wall Street’s earnings forecast of $84.85 billion.
Apple’s CEO, Tim Cook, announced that supply chain restrictions had a significant influence on the financial results of the quarter, leading to about a $6 billion loss.
“We had a very strong performance despite larger-than-expected supply constraints, which we estimate to be around $6 billion,” Cook said, citing “industry-wide chip shortages that have been talked about a lot and COVID-related manufacturing disruptions in Southeast Asia”.
The company believes that the supply chain issues might cost the company much more in its December quarter.
Apple released its iPhone 13 and 13 Pro, a new iPad mini, the ninth-generation iPad, Apple Watch Series 7, third-generation AirPods, and, most recently, the widely anticipated MacBook Pro powered by Apple silicon.
However, getting your hands on these products is still more difficult than it has been in the past.