Apple today reported strong earnings for its fourth quarter fiscal 2021 quarter. It posted all-time highs in its Mac and services divisions. Apple claims it earned $1.24 per share on revenue of $83.4 Billion, an increase of 29 percent year-over-year. This earnings figure was lower than Wall Street's expectations of $84.85 trillion.
CNBC's CEO Tim Cook stated that supply chain issues had a direct impact on financial results for the quarter. We achieved a strong performance despite the larger than anticipated supply constraints. This we estimate to be about $6 billion.
The company has just launched several new products including the iPhone 13 Pro and the iPhone mini, the ninth-generation iPad, Apple Watch Series 7, third generation AirPods and, most recently, the highly anticipated MacBook Pro powered with Apple silicon. Although the new iPhones were not released until the end of the quarter, the overall iPhone business showed strong momentum. It was up 47 percent compared to a year ago. The iPad also saw a 21 percent increase in sales over the previous year.
Apple, like other tech companies, is facing major supply chain problems. The high-end iPhones are still difficult to find at Apple retail locations. In addition, the 14-inch and 16 inch MacBook Pros are currently severely backordered. You don't want to have to wait for long shipping delays. Instead, you can check stock in your local Apple store. However, even this is not a guarantee strategy and Apple's latest gadgets are more difficult to buy than they were in years past.
