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Apple stock sinks 10% after Tim Cook warns of ‘100-year flood’ in memory prices
Apple stock fell 10% following a warning from Tim Cook about a '100-year flood' in memory prices, which, along with supply constraints and slowing growth, is expected to impact the company's current quarter results.
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Adjacent reporting
- Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
- Apple raises prices due to memory chip shortage
- Memory crisis hits such extremes that 'even Apple can't be safe'
- Apple heads for $460 billion wipeout with its stock seeing worst post-earnings drop in 13 years
- Tim Cook’s last quarter as Apple CEO: record iPhone sales, stock still falls
- Tim Cook says Apple will raise prices as memory chip shortage tightens