Apple Stock Slumps After Missing Revenue Guidance

Apple's stock price took a hit on Thursday after the company missed its revenue guidance by $1.2 billion, prompting shares to drop by 6%. This comes despite Apple's successful WWDC event earlier this year.

The company's revenue for the quarter came in at $111.2 billion, but its forecast for the next quarter fell short of expectations. As a result, investors are taking a cautious approach, with some seeing an opportunity to buy into the dip.

One major concern is Apple's shrinking buyback program and rising memory costs, which could put pressure on the company's bottom line in the near term. However, rumors of a new foldable iPhone and improved AirPods camera for 2027 may provide some relief in the long run.