{"id":9319,"date":"2021-07-28T10:50:29","date_gmt":"2021-07-28T14:50:29","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=9319"},"modified":"2021-07-29T08:46:17","modified_gmt":"2021-07-29T12:46:17","slug":"apple-predicts-chip-shortage-could-cause-growth-decline","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/apple-predicts-chip-shortage-could-cause-growth-decline\/","title":{"rendered":"Apple Predicts Chip Shortage Could Cause Growth Decline"},"content":{"rendered":"\n<p>On Tuesday, Apple executives announced that the impact of the chip shortage, which was less severe than expected in the just-ended third quarter, will only get worse in the current fourth quarter extending to iPhone production.<\/p>\n\n\n\n<p>Prior to the announcement, Apple reported third-quarter sales and profits that exceeded analyst forecasts thanks to sales of premium versions of its 5G iPhones and subscription services.<\/p>\n\n\n\n<p>Total revenue was $81.43 billion, $1.30 per share, beating analyst forecasts of $73.30 billion, $1.01 per share.<\/p>\n\n\n\n<p>In post-market trading, Apple shares fell 1.7% to $144.24 after the announcement.<\/p>\n\n\n\n<p>CEO Tim Cook said the chips affected by the shortages are made with older technology but would still be needed as support parts for making iPhones.<\/p>\n\n\n\n<p>The company told investors last quarter that the chip shortage could slow sales by $3 billion to $4 billion.<\/p>\n\n\n<p>For more information, read the <a href=\"https:\/\/www.reuters.com\/article\/us-apple-results\/apple-says-chip-shortage-reaches-iphone-growth-forecast-slows-idUSKBN2EX2OM\" target=\"_blank\" rel=\"noopener\">original story<\/a> in Reuters.<\/p>","protected":false},"excerpt":{"rendered":"<p>Apple announced that the impact of the chip shortage will only get worse in the current fourth quarter extending to iPhone production.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[202],"class_list":["post-9319","post","type-post","status-publish","format-standard","hentry","category-data-analytics","tag-apple"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/9319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=9319"}],"version-history":[{"count":3,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/9319\/revisions"}],"predecessor-version":[{"id":9365,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/9319\/revisions\/9365"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=9319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=9319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=9319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}