Apple Shares Suffer Massive Decline Over Chip Shortage
Overtnews has gathered that Apple’s shares suffered a massive decline earlier this week following reports it could slash its iPhone 13 production targets due to the ongoing global computer chip shortage.
The electronic giant had expected to make 90 million iPhones in the last quarter of 2021, Flipmemes gathered.
It seems this won’t be the case anymore as Apple has now told it’s partners that the total will be lower by as many as 10 million units.
Apple shares fell by 1.2% in after-hours trading following the news.
Recall earlier in September, Flipmemes Reported that Apple launched four new iPhone 13 models: iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max.
Pre-orders however, begun on 17 September and started shipping on 24 September.
Widespread chip shortage however led to a decrease in Demand
Smartphone makers like Apple rely on chip heavily as it’s one of the biggest chip purchasers in the world – which have now been severely impacted, but also other sectors like the car industry and the makers of video game consoles aren’t so affected.