Apple shares fell roughly 5% in after-hours trading on July 30, with some reports pegging the decline as steep as 8%, marking the company’s worst single-session drop in 16 months. The tech giant posted strong June quarter results with revenue climbing 16% and iPhone sales surging 22%. However, guidance for the September quarter forecasts just 9-11% revenue growth, a sharp deceleration from the 16% just reported. CEO Tim Cook attributed the situation to advanced memory chip shortages, describing the constraints as a hundred-year flood. The explosive buildout of AI infrastructure in 2026 has created voracious demand for high-end memory chips, pushing consumer electronics manufacturers down the priority list for component supply.
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