Apple supply constraints expected to continue into Q3 2022
Apple is expecting product supply constraints to continue into Q3 2022, with the company’s CFO Luca Maestri saying on Thursday that COVID-19 factory closures in China combined with silicon shortages will continue to hinder the company in meeting consumer demand.
Speaking after posting a March quarter revenue record of $97.3 billion, up 9 percent year over year during Q2 2022, Maestri said he expects Apple to continue to face supply constraints moving into the third financial quarter of the year, with most iPad and Mac models likely to remain constrained due to the production challenges.
Apple CEO Tim Cook has said he expects supply constraints to cost Apple between $4 to $8 billion depending on how long it takes for suppliers in China to return to their full-scale production volumes, warning that the supply challenges could affect the results in Apple’s Q3 2022 results.