Apple Predicts Lower Q3 Performance Owing to Supply Constraints, Material Shortages

An employee arranges Apple iPhones as customer shop at the Apple Store on 5th Avenue shortly after new products went on sale in Manhattan, in New York City, on, March 18, 2022. Mike Segar/Reuters

Tech giant Apple is predicting a slump in performance for its fiscal Q3, 2022 term ending in June even as the company showcased better results, on a yearly basis, during the second quarter.

Apple said its forecast is based on persistent global supply chain disruptions.