Apple shares slide nearly 10% as Tim Cook cites “100year flood” in memory pricing and softer growth outlook
AI Market Summary
Apple shares fell nearly 10% after management cited a "100year flood" surge in memory pricing compressing margins and issued September-quarter revenue growth guidance (9%–11%) below consensus (~12%). Despite a beat on fiscal Q3 results and record iPhone sales, weaker iPad/services trends and supply constraints heightened concerns about slowing growth and profitability into the next quarter.
Impact level
● High
Affected assets
NCSKAAPL2USD/USDT-3.94%
AI Insight · NCSKAAPL2USD/USDTAI Insight
▼ Bearish
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Apple shares plunged nearly 10% on Friday, the company’s sharpest one-day drop since March 2020, erasing roughly $475 billion in market value. CEO Tim Cook said a “100year flood” in memory-chip pricing squeezed profit margins and that Apple underestimated demand for its iPhone and Mac lineup. Investor sentiment also turned after Apple guided September-quarter revenue growth of 9% to 11%, below Wall Street expectations of roughly 12%.
