Apple Stock Plummets on Weaker Guidance Amid iPhone Sales Boom

Apple's fiscal third-quarter earnings for 2026 beat analyst expectations on revenue and profit but fell short after hours when the company issued weaker-than-expected guidance for the current quarter.

The tech giant reported iPhone sales surged by 22% to $54.3 billion, with earnings per share coming in at $2.02 versus the forecast of $1.89.

However, Apple's growth is expected to slow down to 9-11% next quarter, missing Wall Street's expectation of 12% expansion.

The company cited supply constraints as the reason for cautious guidance, with real limits on how many chips it can source and manufacture.