Chip shortage forces Apple to cut down production: News report
News reports saying that Apple has ben forced to cut down on the number of new iPhones they company makes made the shares fall more than 1%.
Bloomberg reported that Apple had cut its manufacturing target for the last quarter of 2021 from 90 million devices to around 80 million. All of it explained by the global shortage of computer chips.
Apple CEO, Tim Cook, has earlier warned investors that the worldwide semiconductor shortage could affect sales of the iPhone and the iPad.
Apple recently launched four new iPhone 13 models: iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max. Shipping of the new devices started on 24 September.
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