Apple warns chip shortages could hit future sales as supply constraints grow
United Kingdom, July 31 -- Apple has warned that major supply constraints affecting advanced chips and memory components could impact future sales of its most important devices.
Shares in the iPhone maker fell more than five per cent in after-hours trading after the company forecast weaker-than-expected revenue growth for the coming quarter.
Apple said it expected revenue to rise between nine per cent and 11 per cent compared with the same period last year, below Wall Street expectations of around 12 per cent.
Chief executive Tim Cook said the company was facing "very significant" supply challenges, with limited ability to quickly adjust production.
Cook told analysts: "We're seeing some very significant constraints currently with lim...
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