From Alex Webb’s “The Global Chip Crisis Is a Blip for Mighty Apple” posted Wednesday:
The havoc besetting global trade is lapping at the feet of Apple Inc. The world’s most valuable company looks set to cut production targets for its new flagship smartphone, the iPhone 13, by 10 million units, Bloomberg News reported on Tuesday.
That even Apple is feeling the supply chain ructions reveals the extent of the problems. But it also underscores the mastery that Apple wields over that supply chain.
Because if you unpick the numbers, the actual impact on the company will be far from cataclysmic. Indeed, the stock closed just 0.9% lower after the scoop.
My take: The air is coming out of Tuesday’s story.