Because of the chip crisis Apple's iPhone sales fell
Because of the chip crisis Apple's iPhone sales fell

JPMorgan Chase was the second broker to lower Apple's iPhone sales forecast for the Christmas quarter in two weeks. Indeed, the global chip scarcity and the impact of Asian factory closures have taken their toll on the tech giant.

Analyst Samik Chatterjee said in a report to clients that the broker lowered its iPhone revenue estimates for the first quarter of fiscal 2022 to $63 billion, down nearly 4% year over year.

Last week, Needham said it expects 80 million iPhone 13 shipments in the first quarter.

Due to supply chain issues, including chip shortages, Needham lowered its estimate for the holiday quarter by 10 million units.

For the fourth quarter. JPMorgan Chase estimates that after 58 million iPhones are sold, $46 billion in sales will be generated. It was slightly higher than Wall Street had expected at $41 billion.

According to Refinitiv IBES, analysts expect about 45 million units to be sold in the quarter and 79.4 million units to be sold in the first quarter.

Apple may withstand the narrow width test better than many other companies. This is due to its huge purchasing power and long-term supply contracts with chip suppliers.

However, in the second half of this year, supply chain issues and downtimes in countries such as Vietnam hampered production plans.

Bloomberg reported last week that the Cupertino, California-based company could cut iPhone 13 production by up to 10 million units due to a global shortage of chips.

Apple had to cut sales because of chips

Analysts say customers who want the iPhone 13 are being tested for one of the longest cell phone waiting times in years.

"Compared to lower investor expectations, we continue to see strong demand for iPhone 13 and iPhone 5G SE," Chatterjee said.

However, Apple said it will ship two new MacBook Pro and AirPods 3 with more powerful internal chips starting next week.

"Despite the chip shortage, Apple is still announcing new devices for the holiday season, showing that it has proven its channel capabilities," said Wedbush analyst Daniel Ives.

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