Apple profit soars on back of strong iPhone, Mac sales but chip shortage could pose challenges in fiscal third quarter

Apple on Wednesday posted sales and profits ahead of Wall Street expectations fuelled by 5G iPhone upgrades but warned a global chip shortage could dent iPads and Mac sales by several billion dollars.

Fiscal second-quarter sales to China nearly doubled and results topped analyst targets in every category, led by $6.5 billion more in iPhone sales than predicted and Mac sales about a third higher than estimates.