Tim Cook says iPhone 17 demand is ‘off the charts’, but supply constraints impacted sales
Apple reported $56.99 billion in iPhone revenue for the quarter, slightly below analyst expectations. Tim Cook stated that demand for the iPhone 17 was exceptionally high but supply constraints limited sales. The shortage is attributed to limited availability of advanced processor nodes from TSMC, which is facing increased demand from the AI sector.
- ▪iPhone revenue for the quarter was $56.99 billion, just below analyst forecasts.
- ▪Tim Cook described iPhone 17 demand as 'off the charts' but constrained by supply chain limitations.
- ▪TSMC, the sole manufacturer of iPhone processors, is experiencing high demand due to the AI boom, reducing Apple's supply leverage.
- ▪The iPhone 17 Pro models, featuring a new aluminum chassis and orange color options, are seeing strong consumer interest.
- ▪Apple did not release unit sales figures or specify which iPhone models performed best during the quarter.
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