Update: Apple CEO Tim Cook told Reuters Apple had "larger than expected supply constraints" , "We're doing everything we can do to get more (chips) and also everything we can do operationally to make sure we're moving just as fast as possible," Cook said. "We're projecting very solid demand growth year over year. But we are also predicting that we're going to be short of demand by larger than $6 billion," Cook added.

Apple (AAPL) reported earnings after the close on Thursday. Earnings Per Share (EPS) came in at $1.24 versus the estimate of $1.24. Revenue came in at $83.36 billion versus the estimate of $84.85 billion.

Apple stock forecast

Apple stock is trading at $146.7 in the aftermarket for a loss of 3.85%.