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Microsoft beat revenue expectations in its fiscal first quarter, which climbed about 22% year over year. The company's fourth quarter only included a few days of iPhone 13 sales.
Sales of iPhones at the company were up 47% year over year but also fell short of analyst expectations.
CEO Tim Cook told CNBC's Josh Lipton the revenue shortfall is estimated at $6 billion, but he expects worse supply chain issues in the December quarter. Apple reported on Thursday that revenue missed Wall Street expectations in the company's fiscal fourth quarter, a result of supply chain constraints.
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