The Apple CEO stated, "Most of the issue is legacy nodes, not just in our industry but other industries as well. To answer that question accurately, we would need to know the true demand from each player and how that changes over the next few months, so it’s difficult to give a good answer. We have a good handle on our demand, but I don't know what everybody else is doing. We will do our best, that’s what I can tell you."
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Cook was responding to a question presented to him regarding the global chip shortage and if it had effects on Apple. When pressed about when supply chain issues may improve, Cook only said Apple would do its best.
At the moment, no one is sure whether the shortages will affect products slated to be released soon or even the rumored M2 chips Apple is said to be currently working on. That CPU is expected to power the upcoming 14-inch MacBook Pro and 16-inch MacBook Pro and possibly a 27-inch iMac.
Most laptop makers have been battling it out to meet customer supply demands and come out with new innovative tech. But due to the effect of the Covid-19 pandemic bringing production to a halt, the industry is currently facing supply chain issues. Tim Cook admitting to this new reality is possible as a bold move, yet a smart one as honesty with consumers is the best policy.