Apple shares tumble 9% on supply worries, on track for worst single-day fall in over 6 years

Apple shares tumbled 9.44% to $301.95 on Friday after the iPhone maker issued a weaker-than-expected outlook, citing component shortages as the AI-fuelled data-centre boom strains global supply chains, Reuters reported.

The stock shed $31.48 in the session, slipping from its previous close of $333.43.

If the decline holds, it would be Apple’s steepest one-day fall since the pandemic-driven selloff of March 2020 and would wipe nearly $500 billion from its market value. The slide would also return the title of the world’s most valuable company to AI chipmaker Nvidia, just days after Apple reclaimed it.