Apple Slides 10% on Memory Shortage Worries

Apple's stock took a hard hit after reporting its fiscal third-quarter 2026 results on July 30, falling as much as 10% in the sell-off.

The tech giant reported record earnings per share and beat Wall Street estimates, but services revenue fell short of analysts' expectations at $30.7 billion, while management warned of serious constraints tied to DRAM and NAND memory due to a shortage in the memory market.

This means Apple will either have to absorb the additional costs and cut into its own margins or pass them on to consumers who are already constrained in their discretionary spending.

Analysts expected 12% revenue growth for the upcoming fourth quarter, but Apple's guidance is between 9% and 11%, leading to the significant price decline.