Apple Computer is blaming a shortage of G4 processors for its projection of lower than expected fourth quarter earnings.
Apple interim CEO Steve Jobs said earnings are likely to fall below that of the previous quarter because the company was unable to get enough of the G4 chips from Motorola to fill orders for its new Power Mac G4 desktop systems.
“Apple has received orders for over 150,000 Power Mac G4s since the product was announced three weeks ago, and we regret that we will not be able to ship them all this quarter,” said Jobs. “This is a temporary issue, and we hope to catch up early in the coming quarter.”
The late news sent Apple shares plummeting more than $11 a share in after-hours trading.
The full story can be found at www.techweb.com.