Apple CEO Tim Cook said that iPhone demand has been strong but supply is limited.

Apple CEO Tim Cook said that due to the enormous demand for its latest iPhone series products, Apple had very tight inventory at the end of the recent quarter. "We are very excited about the customer response to the latest iPhone series products. It can be said that this has exceeded our expectations," Cook said in a phone call with analysts. He said that the company is now catching up on supply to meet this demand, and given the limited supply of advanced node supply used in its SoC production, it is difficult to predict when it will be caught up. "Currently, we see that the flexibility of the supply chain is not as good as usual, partly because our demand has increased," he said.