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Chip shortage a challenge for Apple’s third quarter revenue

Shortage of chips has impacted many firms and Apple is no exception to that. Estimates indicate, this may impact the third quarter revenue of the company by 3 to 4 billion.
Refinitiv data suggests in the fiscal second quarter ended March 27, sales and profits were $89.6 billion and $1.40 per share as compared to estimates of $77.4 billion and 99 cents per share. Just a day after Alphabet Inc promised to repurchase $50 billion in stockApple announced a $90 billion share buyback.
Even though we can’t predict when this chip shortage problem will come to end, Apple’s business is booming as its App Store has been one of its fastest-growing businesses. Apple investors are also looking for growth from Apple’s accessories business including products like AirPods headphones and its new AirTag trackers

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