Apple slides as supply snags cloud outlook, putting iPhone demand in focus

Apple shares dropped 7.3% before the bell on Friday as the tech giant warned that supply constraints would hurt growth, prompting investors to look beyond near-term shortages to gauge the hit from an expected iPhone price hike.

The decline puts Apple on track to shed roughly $361.6 billion in market value, ‌if the ⁠losses hold.

The ⁠company’s outlook highlighted a broader industry challenge, with AI-driven demand tightening supplies of advanced chips and memory, driving up costs and prolonging supply-chain bottlenecks across the technology sector.