The global chip shortage continues to have ramifications throughout the consumer electronics industry, with Apple said to be cutting their production of iPads by 50 per cent to shift chips to the iPhone 13 for a smoother rollout of their coveted phone, with Apple CEO Tim Cook recently telling investors the chip shortage has already equaled a $6 billion loss in revenue through July-September, the move makes sense, seeing as the iPhone is Apple’s signature item, and typically sells best in the holiday period.
“We’re doing everything we can do to get more [chips] and also everything we can do operationally to make sure we’re moving just as fast as possible,” Cook says, adding that he expects the chip shortage to only get worse.
“Apple loves all its children, but iPhone is more important than the iPad,” says Wedbush Securities managing director Dan Ives.
