Apple reported strong earnings for its fourth fiscal 2021 quarter today, citing all-time highs in its services and Mac divisions. The company reported $83.4 billion in revenue, a 29 percent increase year over year, and earnings per share of $1.24. The earnings figure fell short of the $84.85 billion predicted by Wall Street.
CEO Tim Cook told CNBC that supply chain constraints had a clear impact on financial results this quarter.
“We had a very strong performance despite larger than expected supply constraints, which we estimate to be around $6 billion,” said Cook, attributing the supply issues to “the industry-wide chip shortages that have been talked about a lot and COVID-related manufacturing disruptions in Southeast Asia.”
The iPhone 13 and 13 Pro, a new iPad mini, the ninth-generation iPad, Apple Watch Series 7, third-generation AirPods, and, most recently, the eagerly anticipated MacBook Pro powered by Apple silicon have all been released recently.
Although the latest iPhones were not released until late in the quarter, the iPhone business as a whole maintained strong momentum, increasing 47 percent year on year. The iPad was also up 21% from the previous quarter.
Apple, like other large tech companies, is facing major supply chain challenges: high-end iPhones are still difficult to find in stock at Apple retail locations, and its 14-inch and 16-inch MacBook Pros are already severely back-ordered.
If you don't want to deal with long shipping delays, the best option is to check stock at local Apple stores on a regular basis. Even so, it's not a foolproof strategy, and the reality is that purchasing Apple's latest gadgets is more difficult than in previous years.