Apple’s and Amazon’s Physical Footprints Become Weakness in Shortage Economy

There’s some painful irony to the fact that the world’s two largest tech companies by annual revenue can’t just rely on moving ones and zeros.

Apple Inc. and Amazon . com both reported disappointing results for the September quarter late Thursday. Revenue and operating income for both came in below Wall Street’s forecasts. Amazon also projected lower-than-expected results for the fourth quarter, while Apple—which still refrains from giving specific forecasts—said supply constraints would be worse in the December quarter compared with the just-ended period. The two stocks both fell about 4% following their reports.