Apple Warns That Growth Will Slow After Record-Setting Sales
- Shares slip after the company makes cautious remarks
- IPhone demand helped last quarter soar past estimates
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Apple Inc. slipped as much as 2.9% in late trading after warning that sales growth may be slowing and supplies are getting tight, putting a damper on investor excitement following a record-setting third quarter.
The company said on a conference call Tuesday that supply constraints will affect the iPhone and iPad in the current quarter. Decelerating demand for services also will drive the slowdown. Apple declined to provide specific revenue forecasts, a practice it adopted during the pandemic.