SAN RAMON, Calif. (AP) — Apple’s iPhone sales soared yet again in the past quarter, but didn’t grow as rapidly as analysts anticipated because of supply shortages that have made it more difficult to meet the demand for a wide range of products.
Until recently, the supply shortages that have curtailed production of everything from automobiles to video game consoles haven’t been a major problem for Apple. Although the company’s quarterly results released Thursday served as evidence of its products’ continuing success, they also showed Apple isn’t immune to the supply headaches.
The company earned $20.6 billion, or $1.24 per share, during the July-September period, a 62% increase from the same time last year. Revenue climbed 29% from the same time last year to $83.4 billion.
While the earnings matched the estimates of Wall Street analysts that sway invest