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Apple Results Hit by Supply Chain Woes, CEO Tim Cook Says Holiday Quarter Impact Will Be Worse

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3 years ago

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Apple Results Hit by Supply Chain Woes, CEO Tim Cook Says Holiday Quarter Impact Will Be Worse

Supply chain issues caused Apple to lose US$6 billion (approximately Rs 448.9 billion) in sales in the fourth fiscal quarter, which was lower than Wall Street’s expectations. CEO Tim Cook said that in the current holiday sales quarter, the impact will be more serious. Cook told Reuters on Thursday that “supply restrictions were greater than expected” for the quarter ended September 25, as well as the pandemic-related manufacturing disruption in Southeast Asia.

Cook said that although Apple saw “significant improvement” in these Southeast Asian factories in late October, chip shortages persist and are now affecting “most of our products.” Cook said: “We are doing everything we can to get more (chips) and everything we can do in operations to make sure we move as fast as possible.” Cook said the company expects to achieve year-on-year growth in the quarter ending in December.

Analysts expect an increase of 7.4% to reach 119.7 billion U.S. dollars (approximately 895.4 billion rupees). “We expect demand to grow very steadily year by year. But we also predict that the demand gap will exceed $6 billion,” Cook said. The Cupertino, California-based company has gained nearly 15% this year, and its shares fell 3.4% in after-hours trading on Thursday. After Microsoft’s stock price rose due to the strong cloud computing business, the decline may make Microsoft the world’s most valuable company. Apple’s fourth-quarter results were mixed, and it was seen as a quiet period before the year-end high sales holiday.

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Apple said that its fourth-quarter revenue and profit were US$83.4 billion (approximately Rs 6,237.39 billion) and US$1.24 (approximately Rs 9.2 billion) per share, while analysts estimated that it was US$84.8 billion (approximately Rs 6,3424.1 billion). ) And according to Refinitiv’s IBES data, $1.24 per share. As a result, during the COVID-19 pandemic, the fiscal year of higher-than-expected sales driven by strong sales of iPhone 12 models and Mac computers and iPads for working and studying at home ended in a difficult way.

Apple told investors in July that chip restrictions will begin to affect its iPhone and iPad product lines for the first time in the fourth quarter. Shortly after retailer Amazon predicted that sales in the holiday quarter were well below Wall Street expectations, Apple announced its results, partly due to labor shortages and global supply chain issues.

Apple “managed to solve these problems well, but did not escape unscathed. The prolonged duration of these problems will cause trouble, especially because the market is ruthless about Apple’s performance,” Sophie Lund-Yates said. . Analyst at Hargreaves Lansdown.

News Source : Gadgets 360

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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