Oct 13, 2021
Apple shares drop on reports of iPhone 13 chip shortage
Apple's shares dropped on Tuesday following reports it could slash its iPhone 13 production targets due to the ongoing global computer chip shortage. The electronic giant had expected to make 90 million iPhones in the last quarter of 2021, reported Bloomberg. In September, Apple launched four new iPhone 13 models: iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max. In July, Apple chief executive Tim Cook warned investors that the semiconductor shortage could affect sales of the iPhone and the iPad.Investment firm Wedbush estimates that Apple will be running a shortage of more than five million iPhone 13 units for the holiday season, if consumer demand continues to keep pace with the number of iPhones being shipped for the rest of this year. "We view today's news as nothing more than a speed bump on a multi-year supercycle iPhone 12/13 that continues to play out."
Make a complaint about Apple by viewing their customer service contacts.