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We knew this was a problem.
I expected that if there was a time that Apple’s senior executives would mention it, it would be when calling the results.
And that’s when it happened.
Apple, like most other tech companies, is feeling the effects of the component shortage.
One word that comes up often during the call is “constraints.” It was up to Apple’s CFO, Luca Maestri, to break the bad news.
“… We expect the supply constraints in the September quarter to be greater than those we experienced in the June quarter. The constraints will primarily affect the iPhone and iPad.”
Must read: Don’t Buy These Apple Products: July 2021 Edition
Normally I would blame this on scarcity marketing – “get into it quickly with your iPhone orders, or else you’ll run out and the cool kids will laugh at you” – but these supply constraints are real and they affect almost all of the companies involved in the manufacture of things.
CEO Tim Cook then provided more details on the constraints.
“The majority of the constraints that we see are of the variety that I think others say I would characterize as an industry shortage. We have a few shortages, on top of that, this is where the demand has been so. big and so beyond our own expectations, it’s hard to get all of the parts in the time frame that we’re trying to get them. So that’s a bit of that too. ”
A little of this, a little of that.
Overall, Apple likes to under-promise and over-deliver, especially when it comes to Wall Street, so it doesn’t surprise me that there is that air of caution.
It makes sense.
The landscape is changing rapidly.
But I think it’s interesting and somewhat revealing that Apple is willing to make such a statement, a statement that resulted in a drop in stocks.
This statement was not made lightly.
If you like to buy a new iPhone right out of the gate, you may need to work a little harder this year.
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