Tech company is showing 'Teflon-like' resistance to semiconductor shortages, Wall Street analysts say.
that supply shortages reduced its iPhone sales by about $6 billion. The company may address how supply shortages affected its performance in the most recent quarter during a conference call with analysts scheduled later Thursday.Despite what drag the shortages caused, Apple still earned $34.6 billion, or $2.10 per share, a 20% increase from the same time in the previous year. Revenue climbed from the previous year by 11% to $123.95 billion.
Apple's ongoing success help push the company's market value above $3 trillion for the first time earlier this month. But its stock price has tumbled 13% since hitting that peak amid worries about a projected rise in interest rates aimed at dampening the torrid pace of inflation that has been fueled in part by supply shortages.
The up to 30% commissions collects from apps distributed through Apple's exclusive app store have become a focal point of a fierce legal battle that unfolded in , as well as proposed reforms recently introduced in the U.S. Senate that tear down the company's barriers that prevent consumers from using alternative payment systems.
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