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The Economic Times
The Economic Times

UNCOVERED: Apple disappoints with forecast dogged by supply chain struggles - The Untold Story

SAN FRANCISCO - Apple forecast sales for the current quarter ending in September would grow more slowly than Wall Street targeted as the iPhone maker struggled to get the ​parts it needed to deliver products, and shares fell 5.5% in after-hours ​trade.

Apple and the technology industry generally have been scrambling to meet demand for new products, especially those with high-end processors and memory, and executives ​described the weaker forecast in terms of supply, not demand.

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