Apple Q3 Revenue Beats but Weak Q4 Guidance Sends Shares Down 8%
AAPL sits 53% above its 52-week low of $201.5 on elevated volume (2.3× avg).
Summary
Apple reported Q3 revenue of $109.42B, beating the $108.65B consensus, but shares fell nearly 8% after hours as Q4 revenue growth guidance of 9-11% missed the 12% expectation. CFO Kevan Parekh blamed supply constraints for parts, particularly impacting iPhone revenues. The miss overshadowed strong iPhone, Mac, and wearables sales, while Services and Greater China revenue came in light. This follows a 15% July rally amid an AI infrastructure unwind, and the guidance disappointment triggered profit-taking. Analysts are split: Barclays cut its target to $245 (Underweight), citing component shortages prioritizing AI over Apple products; JPMorgan and Morgan Stanley remain Overweight, viewing supply constraints as pushing revenue into future quarters. The stock's premium valuation leaves little room for error, and the supply chain headwinds raise questions about gross margin trajectory into FY27.
At the time of this announcement, AAPL was trading at $307.36 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.5T. The 52-week trading range was $201.50 to $344.57. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: CNBC TV18.