Problems with Apple Inc.’s supply chain have been “blown out of proportion” according to Gene Munster, Apple analyst and co-founder and managing partner at Loup Funds.
Munster said in a note published on April 29 that the tech giant’s supply chain issues are in fact an “investor distraction vortex” after the company predicted a decline in performance for its third quarter of fiscal 2022, ending in June.
The company based the forecast on persistent global supply chain disruptions.
“We believe our year-over-year revenue performance during the June quarter will be impacted by a number of factors. Supply constraints caused by COVID-related disruptions and industrywide silicon shortages are impacting our ability to meet customer demand for our products,” Luca Maestri, chief financial officer at Apple Inc., said during an April 28 earnings call detailing the company’s second-quarter results.
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