Apple Stock Plummets on Chip Shortage Warnings Amid Robust Earnings

Apple's recent quarterly results showed robust growth in iPhone and Mac sales. However, the stock immediately declined due to supply chain warnings tied to chip shortages.

Analysts noted Apple's continued share buybacks and lower data center spending compared to peers. The company reported revenues of $109.4 billion in Q3 2026, a 16.36% increase from the same period last year.

Market technicals showed the stock breaking below its recent consolidation range, with attention turning to key support levels around recent closes. Some observers emphasized the potential for AI features to drive future growth amid softer services growth.