Apple reported its Q1 2023 earnings today, missing analyst expectations due in part to a decline in iPhone revenue. Speaking to analysts during Apple’s earnings call, CEO Tim Cook acknowledged that had it not been for iPhone 14 Pro supply shortages, iPhone revenue would have grown in Q1 2023 compared to Q1 2022.
This confirmation from Tim Cook isn’t necessarily surprising. Apple’s highest-end and most popular iPhone 14 Pro and iPhone 14 Pro Max devices were largely unavailable through the important holiday shopping season. This, of course, had a significant impact on Apple’s earnings for Q1 2023 revenue.