Bearish
Apple's stock drops 7.4% amid weak revenue forecasts and rising memory costs.
Apple's stock declined by 7.4% following its latest earnings report, which revealed weak revenue forecasts and rising memory costs. CEO Tim Cook noted that the company expects to pay even more for memory costs in the September quarter. Despite these challenges, analysts like Jim Kelleher from Argus Research maintain a 'Buy' rating, citing Apple's strong product lineup and market position.
Key points
- Apple's stock fell 7.4% due to weak revenue forecasts and rising memory costs.
- CEO Tim Cook anticipates higher memory costs in the September quarter.
- Analysts like Jim Kelleher maintain a 'Buy' rating, citing Apple's strong product lineup.
Sources
AI-generated from public news sources. Not financial advice.
