Apple 'not immune' to challenges resulting from Ukraine war, China COVID lockdowns
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On Apple's (NASDAQ:AAPL) earnings call, Chief Executive Tim Cook said the tech giant was "not immune" to the challenges caused by the war in Ukraine and COVID-related disruptions in China.
Cook said there would be some impact, but he added he has "great confidence" in Apple's teams and employees to handle the issues. 
Looking ahead, Cook added that COVID-related disruptions in China are an issue for Apple (AAPL), particularly in Shanghai, but there is "some reason for optimism" that the situation may not be as bad as feared, as factories have opened and production starts to ramp up again.
Chief Financial Officer Luca Maestri said June revenue is likely to be impacted by supply constraints caused by COVID, silicon shortages, with the value of the constraints between $4 billion and $8 billion, "substantially larger" than Apple saw in the March quarter.
Cook added that Apple could recapture some of the demand lost due to the lockdowns, but some of it may be lost forever.
Apple (AAPL) shares, which had been higher in after-hours trading, fell nearly 3.5% to $157.61 during the conference call on Thursday.
Nonetheless, Apple (AAPL) saw strong demand for the iPhone in the quarter, as it generated $50.57 billion in revenue from the smartphone, up from $47.9 billion in the year-ago period, due to strong demand for the iPhone 13 lineup. 
Maestri also noted that Apple (AAPL) was seeing some slowdown in China as a result of COVID-related lockdowns. 
Cook also said the company is seeing "some level of inflation," but the main focus was on the supply side and not so much of an impact to consumer's ability to buy Apple (AAPL) products and services.
On Monday, Wedbush Securities said the results from Microsoft (MSFT) and Apple (AAPL) "could dictate the path of tech stocks over the coming months."