Apple revenue missed market expectations in its Q4 that Apple CEO Tim Cook attributed to larger-than-expected supply constraints, according to the company press release on Friday.

  • Apple’s overall revenue still rose 29%, and each of its product categories expanded on an annual basis. iPhone sales rose by 47% year-over-year but were still under Wall Street estimates.
  • Apple has released the official guidance since the start of the pandemic, but Cook stated Apple expects “solid year-over-year revenue growth” in the December quarter.
  • Despite supply constraints, Apple expects higher than the $6 billion in revenues in the September quarter. Apple states that its December quarter will be the company’s largest in terms of revenue.
  • Apple CFO Luca Maestri, in a call with analysts, stated iPad sales would plunge year-over-year in the December quarter due to supply chain problems while other product categories grow.

Apple is currently in the middle of significant growth as sales of iPhones, iPads and Macs soared during the pandemic. Apple’s annual revenue for full-year 2021 rose 33% to $366 billion. AAPL up +2.50%