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Apple Blames Supply Chain Constraints for Disappointing iPad Sales, Expects Component Shortage to Worsen in Q3 2022

Apple announced record earnings for the second quarter of 2022, with a revenue of $97.3 billion. Interestingly, the iPhone maker registered growth in every category except the iPad. In an interview with The Wall Street Journal, Tim Cook said that iPad sales were adversely affected by supply chain issues. Apple’s chief financial officer, Luca Maestri, said that he expects component shortages to cost Apple $4 billion to $8 billion in revenue in Q3, 2022. Continue reading →
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