Scarce chips may pinch Apple's iPhone holiday sales, analysts see rebound next year

FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar

(Reuters) - The global chip shortage could be creeping its way to Apple's newest iPhone 13 smartphones, but analysts think that the technology giant can weather the impact by making up for any lost holiday sales with a stronger showing next year.

On Tuesday, Bloomberg reported that Apple is likely to slash production of its iPhone 13 by as many as 10 million units and produce 80 million units of the new iPhone models by the end of this year, due to the chip shortage.