Business · 31 July 2026

Apple shares fall as chip shortages hit sales forecast

Apple's stock dropped 7% on Friday after the company predicted slower sales growth for the current quarter, missing Wall Street's 12% estimate. CEO Tim Cook said significant shortages of advanced chips are limiting iPhone and Mac supplies, despite strong demand. The sales forecast comes after Apple reported record third-quarter revenue of $109.4 billion, beating expectations.

By BriefTea Editorial · 31 July 2026 at 15:20

Reported by Reuters · How we write briefs

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