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Apple says chip shortage reaches iPhone, growth forecast slows

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Reuters

By Stephen Nellis (Reuters) -Apple Inc said on Tuesday that a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecasted slowing revenue growth, sending its shares lower. Apple executives said revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4% growth rate in the just-ended third quarter. Growth will also slow in Apple’s closely watched services business, they said. In a conference call with investors, Apple executives also said that the global chip shortage had a less severe impact…

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