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Apple’s iPhone sales to be affected by chip shortages predicts JP Morgan

Apple's iPhone sales to be affected by chip shortages predicts JP Morgan

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Heavyweight US bank JPMorgan has cut its estimates for sales of iPhones and also its revenue forecast for Apple Inc because of computer chip shortages and factory closures in Asia. JPM now expects iPhone revenue of $63bn for the first quarter of fiscal 2022, which would be an annual decline of nearly 4% said the bank.

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