Apple Stock Plunges 10% After Weaker Earnings Guidance

Apple's (AAPL) stock plummeted nearly 10% during Friday afternoon trading after the company's weaker-than-expected fourth-quarter revenue guidance left Wall Street analysts divided on the stock's near-term outlook.

While some firms pointed to supply constraints and margin pressures as key headwinds, others remained constructive on Apple's long-term demand story. TD Cowen raised its price target to $400 from $350, implying nearly 20% upside from Thursday's close, while maintaining a 'Buy' rating.

Wells Fargo also lifted its price target to $350 from $310, pointing to about 5% upside from Thursday's close. However, Morgan Stanley lowered its price target to $360 from $364, citing strong product demand but adding that supply constraints are limiting September-quarter growth.