Apple Shares Tumble on Weak Forecast Amid AI-Driven Supply Chain Woes

Apple's stock plummeted 7.4% on Wall Street after the company issued a disappointing forecast, citing supply chain struggles due to the AI-driven data center boom.

The iPhone maker's shares closed at $308.91, down $24.52 from Thursday, erasing over $400 billion from its market capitalization and handing back the title of world's most valuable company to Nvidia.

Tim Cook acknowledged the shortages as 'very significant' and said Apple had limited options to address them, adding that even at their scale, they were feeling the strain.