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Apple and Tesla Are the Chip Shortage’s Latest Victims

The chip shortage is about to hit the iPhone.

Apple Inc. and Tesla Inc. are set to begin feeling the impact of a significant disruption to the global supply of microprocessors, a sign that even some of the largest, best-supplied companies can no longer sidestep the semiconductor crisis.

The iPhone maker cautioned on Tuesday that supply constraints would extend to its smartphones during the three-month period ending in September, contributing to a slowing of the company’s growth compared with the 36% revenue gain in the most recent quarter. The caution comes as Apple prepares to bring out its latest iPhone this fall.

“We’re going to take it sort of one quarter at a time and, as you would guess, we’ll do everything we can to mitigate whatever set of circumstances we’re dealt,” Chief Executive Tim Cook told analysts Tuesday during a public conference call.

IPhone revenue rose 50% in the past quarter while most smartphone competitors have struggled to get parts. Similarly, Tesla posted a record profit for the most recent quarter in which it saw car deliveries more than double from a year earlier as other auto makers struggled with production.



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