Apple sales and profit top estimates as hit from chip shortages eases

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Category: Economic
Published Friday, January 28, 2022
CTV News

Apple Inc is overcoming the costly global shortage in computer chips, posting record sales over the holiday quarter, beating profit estimates and forecasting that its shortfall is narrowing.

The iPhone maker, which is world's largest company by market capitalization, has handled supply-chain challenges such as factory shutdowns and shipping delays brought on by the pandemic better than any of its top peers, analysts said.

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