Analyst Says Apple's Supply Chain That Crashed The iPhone Party Is 'Transitory,'

$Apple (AAPL.US)$ reported mixed fourth-quarter earnings, sending shares lower in after-hours trading.Apple's fourth-quarter revenues of $83.4 billion missed the consensus estimate, with iPhone revenues of $38.9 billion trailing the consensus estimate of $41.3 billion.With the "supply chain black cloud" impacting every sector, Apple's results showed the company isn't immune either. Supply chain constraint negatively impacted revenues, mainly that of iPhones, by about $6 billion.
However, analyst views this as transitory and it will in no way impact his long-term bullish view of Apple heading to a $3 trillion market cap in 2022.Apple will be running into a major iPhone 13 unit shortage for the holiday season if consumer demand keeps up at this pace, he added. This is purely a supply chain issue and not a demand issue for iPhones.