Apple sales and profit top estimates as hit from chip shortages eases - BusinessWorld Online

1/28/2022 8:47:00 AM

Apple Inc. is overcoming the costly global shortage in computer chips, posting record sales over the holiday quarter, beating profit estimates and forecasting that its shortfall is narrowing. READ:

Apple Inc. is overcoming the costly global shortage in computer chips, posting record sales over the holiday quarter, beating profit estimates and forecasting that its shortfall is narrowing. READ:

Apple Inc. is overcoming the costly global shortage in computer chips, posting record sales over the holiday quarter, beating profit estimates and forecasting that its shortfall is narrowing. The iPhone maker, which is the world’s largest company by market capitalization, has handled supply-chain challenges such as factory shutdowns and shipping delays brought on by the […]

The iPhone maker, which is the world’s largest company by market capitalization, has handled supply-chain challenges such as factory shutdowns and shipping delays brought on by the pandemic better than any of its top peers, analysts said. Apple shares rose about 5% in after-hours trading, erasing half their losses on the year. The gains came after the company teased its ambitions for augmented reality in the metaverse.

The four best-selling phones in urban China were all iPhone models, Apple said, as competitors struggled to manufacture rival offerings. It was the top-selling vendor in China for the first time in six years, research firm Counterpoint Research reported on Wednesday.

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