Apple needs more chips
- But the chip shortage has also been having a material impact on other industries.
What they’re saying: After the company’s quarterly results were released on Tuesday, Apple CFO Luca Maestri told CNBC how the chip shortage held back sales.
- "The shortage primarily affected Mac and iPad," Cook said. "We had predicted the shortages to total $3 to $4 billion. But we were actually able to mitigate some of that."
- Cook noted that the company's shortfall came in at the lower end of that initially predicted range.
Threat level: "We expect supply constraints during the September quarter to be greater than what we experienced during the June quarter," Apple CFO Luca Maestri said on a call with analysts.
- "The constraints will primarily impact iPhone and iPad."
The bottom line: Shortages will continue to be a problem for businesses aiming to maximize sales and profits. But on the bright side, it also reflects potential business activity that has yet to be realized.
Editor's note: This post has been corrected to show it was Apple CFO Luca Maestri who spoke on the call with analysts (not Apple CEO Tim Cook).