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    Apple sales of iPhones, iPads, and Macs led to a $90 billion revenue last quarter. iPhones took the spotlight by reaching sales of around $48 billion, surpassing the same quarter last year by nearly 65% 

    The pandemic sparked issues amongst major supply chains resulting in a lower supply, thereby increasing demand for the products. Apple’s Chief Financial Officer Luca Maestri expects the company’s revenue to drop $3 billion to $4 billion. The issue in procuring chips, which will have a direct impact on the production of iPads and macs.

    Carmakers were one of the first industries to notice the shortage of microchips. Big companies such as General Motors, Hyundai, Ford, and Chrysler were forced to temporarily shut down facilities. The amount of revenue that will be lost by these automakers is estimated to be in the billions of dollars range.

    The shortage of microchips affects many industries. Goldman Sachs estimates “there will be a 20% shortfall of computer chips for those affected.” As a result, products with shortages could rise 0.7% to 3%.

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