Apple hits surprise record sales over holidays

Apple posted record sales over the holidays, overcoming the costly global shortage in computer chips and blowing past profit forecasts.

Industry analysts say the iPhone maker has handled factory shutdowns and shipping delays better than any of its competitors.

And it was the top-selling vendor in China for the first time in six years, according to market research.

The company used its buying power to squeeze vendors for supplies-

Apple executives said chip shortages mostly affected its older products, particularly the iPad.

Apple’s growth in subscriber products, like music, TV and fitness is also helping to soften the blow of low supply of devices.

The company said its garnered nearly 800 million subscribers across its at least seven offerings, which has soothed investors concerned about rivals such as Netflix.

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