AAPL Slumps 10% Amid Apple's Weaker Guidance

Apple's stock price plummeted nearly 10% on Friday following its weaker-than-expected fourth-quarter revenue guidance. The company's outlook left Wall Street analysts divided, with some focusing on near-term headwinds such as supply constraints and rising memory costs.

Despite the decline, retail traders on Stocktwits turned bullish, viewing the selloff as a buying opportunity. Many saw the drop as an overreaction to Apple's softer guidance, particularly in Services revenue growth.

The mixed reaction from analysts was evident, with TD Cowen raising its price target to $400 and maintaining a 'Buy' rating, while UBS reiterated a 'Neutral' rating and a $296 price target. Morgan Stanley lowered its target to $360, citing supply constraints limiting September-quarter growth.