None
CY
Apple stock price plummets as supply chain snarls mar forecast in Cook’s final earnings as CEO
['Macdailynews Webmaster', 'David Larsen']
MacDailyNews
Apple shares fell nearly 10% on Friday after a disappointing forecast revealed struggles to secure enough components amid the AI-driven data center boom straining global supply chains, according to Reuters.
“If even at Apple’s scale they are saying they are out all supply chain flexibility, it’s really bad for everyone,” Ben Bajarin, CEO of tech consultant Creative Strategies, told Reuters.
At least four brokerages cut their targets for the company’s stock price, while three raised.
That moved the median view to $330, which is $3 lower than the last closing price, according to LSEG data cited by Reuters.
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com.