Apple Stock Plunges 7.4% After Strong Q3 Results

Apple's stock took a hit after the company reported its best third quarter in five years. Despite strong growth across its business, investors were worried about weak guidance, rising costs, and iPhone demand. Net sales increased 16.4% year over year in fiscal Q3 2026, with iPhone sales rising 21.7% from a year earlier.

The company's stock fell 7.4% on July 31, wiping out around $426 billion in market value in just two days. This sharp fall shows that investors were concerned about Apple's future growth, even though the latest quarter was strong.

One of the main concerns was weaker guidance, with Apple expecting fiscal Q4 2026 net sales to grow only around 9% to 11% year over year. This is much weaker than the 16.4% growth seen in the latest quarter.