The Biggest Takeaway From Apple's Latest Earnings Report
Share prices of Apple (NASDAQ: AAPL) fell 3.7% following the company's fiscal 2022 second-quarter results, released on April 28, because management had pointed out that the tech giant's performance in the current quarter will likely take a hit on account of supply chain shortages.
CFO Luca Maestri pointed out on the company's latest earnings conference call that the global semiconductor shortage and pandemic-related disruptions will weigh on Apple's ability to meet the demand for its products. As a result, Apple is expected to lose $4 billion to $8 billion in revenue in the current quarter. Apple didn't provide specific guidance for the quarter, citing an uncertain business environment, but Maestri's comments were enough to send some investors into panic mode.
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Source Fool.com
