bbc_business

Apple warns of future 'supply constraints' for Mac, iPhone, iPad

📰 source: bbc_business · 💼 business

apple warned investors it expects 'significant' supply constraints for mac, iphone, and ipad products in the coming quarter. shares fell more than 7% in after-hours trading despite a strong earnings beat: revenue up 16% to $109b and profits up 26% to $29b. ceo tim cook said the constraints are already affecting mac availability and will worsen, spreading to iphone and ipad. the bottleneck is in advanced chip components, most of which are made by tsmc in taiwan. cook attributed the issue to unexpected demand, not just supply problems — iphone and mac sales grew 22% and 25% respectively in the june quarter. apple also noted that tariff refunds boosted gross margins by 2%, roughly $1.1b, which cook said the company intends to reinvest in the us. cook also discussed apple's upcoming siri ai relaunch, calling it a competitive weapon, and said eu negotiations are ongoing to release it everywhere simultaneously.

why it matters: apple's supply warning signals growing chip shortages may impact consumer electronics earnings and stock valuations.

source: bbc_business
sentiment: -0.70 · impact: 0.85

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

Read more

Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects