Chip Shortages Are Affecting Apple's Ability to Make Enough iPhones

Apple laid out both good and bad news about iPhone sales in its earnings call Thursday: On the one hand, CEO Tim Cook revealed that the company had record sales of $85.3 billion for its last quarter, driven by its iPhone 17 and iPhone Air lineups.

On the other, Cook said, Apple left money on the table because it couldn't meet all the demand for iPhones due to constraints on the chips it needs to make those phones.

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Cook called the demand for new iPhones "staggering," but admitted that the world's largest tech company is dealing with the same supply-chain constraints that ...