Apple to reveal impact of supply constraints and cost-of-living squeeze on sales

For now, analysts expect quarterly revenues at the iPhone maker to have risen by about 5 per cent.

The US firm is also expected to provide an update on the impact of semiconductor supply shortages on its business as fresh Covid lockdowns in some of China’s biggest cities rock the global electronics industry.

For now, analysts expect quarterly revenues at the iPhone maker to have risen by about 5 per cent.

Ahead of Thursday’s second-quarter numbers, Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: “The biggest news where Apple is concerned is Chinese supply chain disruption. Some negative commentary on this is expected, but ultimately we don’t think the long-term investment case has been derailed.

“Right now, quarterly revenues are expected to rise around 5 per cent. That’s lower than some would like and the drag is likely to continue into Q3, with the market likely to respond negatively to a worse-than-expected outlook.”