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Apple shares tumble as iPhone 13 production reportedly slashed

October 13, 2021

Via: Sky News

Apple is going to make 10 million fewer devices than it had initially planned, reported Bloomberg News, due to the ongoing global shortage of computer chips.

The expected impact on the company’s business caused Apple’s share price to go down by 1.2% in after-hours trading.

It comes as a global shortage of semiconductors impacts all industries that need computing power to run, from car manufacturers through to games consoles and mobile phones.

Earlier this year, Apple’s chief executive Tim Cook warned that the company had been using a buffer stock of semiconductors to meet demand.

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