Apple Shrugs Off Supply-Chain Woes as Shares Head for Best Week in Six
- Report of component shortages didn’t derail Apple’s rebound
- The stock has risen for two weeks and is up 4% from recent low
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Component shortages that have derailed revenue forecasts across the corporate universe came calling for Apple this week. The response from shareholders? They bought more of the stock.
Apple shares rose 0.8% on Friday and wrapped up their best week in six, despite expectations that the tech giant will deliver millions fewer iPhone 13 devices this year than originally planned due to supplier constraints. The shortfall could total as many as 10 million units, people with knowledge of the matter said.