Apple sales miss expectations, Tim Cook says supply issues cost company $6 billion

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EARNINGS: Apple Q4 EPS $1.24 vs. $1.24 Est.; Q4 Revs. $83.36B vs. $84.85B Est. • $AAPL CNBCJosh has the numbers.

$38.87 billion vs. $41.51 billion estimated, up 47% year-over-yearOther Products revenue:$9.18 billion vs. $9.23 billion estimated, up 1.6% year-over-year42.2% vs. 42.0% estimatedApple hasn't provided official guidance since the start of the pandemic, but Cook said Apple expects "solid year-over-year revenue growth" in the December quarter despite the fact Cook said Apple will face worse supply constraints in the current quarter.

Cook said that the supply issues were with chips were on "legacy nodes," or older chips, instead of the technologically advanced processors at the heart of Apple's devices. Apple is currently in the middle of massive growth as sales of iPhones, iPads and Macs exploded during the pandemic. Apple's annual revenue for its fiscal 2021 was up 33% from 2020 to $366 billion.

Cook said that Apple has 745 million paid subscriptions, which not only includes first-party services like Apple Music but also subscriptions through Apple's App Store.

 

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Someone in the room had to see this coming tho right? Had too.. and why not just push the rollout?

$AFMJF Alphamin resources has tin! 📈

You mean living off Jobs’ legacy wasn’t going to last forever? 🤔

Check this out

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