Apple sees growing supply problems, says demand in China affected

Chief Financial Officer Luca Maestri warned in an interview that the war in Ukraine would leave a bigger dent on sales in the current quarter.

OAKLAND, Calif.: Apple Inc forecast growing problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the company sees as its engine for expansion.

Shares were down 3.5% after executives laid out their glum outlook on a conference call. The news outweighed strong results for Apple's quarter ended in March, including record profit and sales.