Apple shares tumble 7% after CEO warns of memory-chip price surge and slower growth

Apple shares tumble 7% after CEO warns of memory-chip price surge and slower growth

Business Technology

Apple's shares fell 7% after CEO Tim Cook warned that a sharp rise in memory-chip prices and weaker demand could pressure margins, and the company projected revenue growth below analysts' expectations for the September quarter. Cook made the comments during the fiscal third-quarter earnings call, where Apple reported record revenue of $109. 4 billion, driven by a 22% jump in iPhone sales and tariff refunds, but missed its services forecast.

He also announced that he will step down as CEO on Sept.  1, naming senior vice president John Ternus as his successor. Analysts had been watching the results for clues on the impact of the new Apple Upgrade program and the company's outlook.

Actors

Apple Inc. Tim Cook

Locations

Cupertino, California, United States

Articles

July 31, 2026
2 total
Apple shares drop 7% as CEO cites memory-chip price surge and slower growth
Apple shares drop 7% as CEO cites memory-chip price surge and slower growth

New York Post • 31 Jul 18:07

Apple's stock fell 7% after Tim Cook warned that a sharp rise in memory-chip prices and weaker demand could pressure margins, while the company projected revenue growth below analysts' expectations for the September quarter.

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Apple CEO Tim Cook cites supply constraints and memory-chip price surge ahead of leadership transition
Apple CEO Tim Cook cites supply constraints and memory-chip price surge ahead of leadership transition

Fortune • 31 Jul 00:28

Apple forecast slower iPhone growth and lower overall revenue as a shortage of advanced processors and rising memory-chip costs tighten margins, while Cook expressed optimism about future opportunities before handing the CEO role to John Ternus.

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July 30, 2026
4 total
Apple posts record $109.4 billion revenue as Tim Cook announces departure
Apple posts record $109.4 billion revenue as Tim Cook announces departure

Fox Business • 30 Jul 22:16

Apple reported $109.4 billion in revenue for its fiscal third quarter, driven by higher iPhone sales and tariff refunds, and confirmed CEO Tim Cook will step down on Sept. 1 after 15 years.

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Apple shares dip ahead of earnings as company launches leasing program
Apple shares dip ahead of earnings as company launches leasing program

Yahoo Finance • 30 Jul 19:53

Apple's stock slipped about 2% before its quarterly earnings report, while analysts project strong revenue growth and the firm unveiled a new device-leasing service.

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Apple posts higher Q3 earnings on iPhone surge, misses services forecast
Apple posts higher Q3 earnings on iPhone surge, misses services forecast

cnbc.com • 30 Jul 18:47

Apple reported fiscal third-quarter revenue of $109.4 billion and earnings per share of $2.02, driven by a 22% rise in iPhone sales, while services revenue fell short of expectations.

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Apple set to report fiscal Q3 earnings with analysts focusing on upgrade program impact
Apple set to report fiscal Q3 earnings with analysts focusing on upgrade program impact

9to5Mac • 30 Jul 13:19

Apple will release its fiscal third-quarter results, with consensus forecasts showing earnings per share of $1.88 and revenue of $108.8 billion, while investors look for guidance on the new Apple Upgrade program.

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