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Apple reports record quarter as China drives COVID rebound

iPhone giant warns June revenue decline due to supply constraints

iPhone sales jumped 65.5% year over year in the March quarter, propelled by strong demand for the company's first 5G-capable smartphone. (Photo courtesy of Apple) 

PALO ALTO, U.S. -- Apple reported its highest-ever March quarterly revenue on Wednesday driven by robust sales of its first 5G iPhones, especially in China. However, the U.S. tech giant warned that its June quarter number might not be as robust, acknowledging that it is struggling with the supply constraints plaguing the global tech industry.

"The shortages ... affect primarily the iPad and the Mac, and so we’ll have some challenges in there, and challenges in meeting the demand that we’ve got," Apple CEO Tim Cook said during an earnings call Wednesday, confirming a report by Nikkei Asia this month.

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