Apple's stock fell after the company reported third-quarter earnings and gave weak revenue guidance that CNBC linked to supply constraints.
Key facts
- Apple reported third-quarter earnings on Thursday after the closing bell.
- The conference call with analysts began at 5 p.m. ET.
- CNBC reported Apple's stock dropped as much as 8%.
- A later CNBC update reported the stock down 6%.
- CNBC attributed the decline to weak revenue guidance driven by supply constraints.
Apple reported its third-quarter earnings on Thursday after the closing bell, according to CNBC. The results were followed by a conference call with analysts that began at 5 p.m. ET.
In the wake of the report, CNBC reported that Apple’s stock declined, with the drop tied to weak revenue guidance. The outlet attributed the softer outlook to supply constraints affecting the company.
CNBC’s live coverage reflected a moving share price. An initial update reported the stock down 8%, while a later update showed the decline had narrowed to 6%.
Beyond the reported stock movement and the reference to supply constraints and weak revenue guidance, the available sources did not provide additional financial figures or specifics from the earnings report or analyst call.
As with any live-updated market story, the figures reported reflected the situation at the time of publication and were subject to change as trading and coverage continued.
Why it matters
Apple is one of the world's most valuable companies, so movements in its stock and its guidance can influence broader market sentiment. A revenue outlook shaped by supply constraints signals potential challenges that investors and consumers alike watch closely.
Frequently asked questions
Why did Apple's stock drop?
According to CNBC, Apple's stock dropped after the company issued weak revenue guidance, which the outlet linked to supply constraints.
How much did Apple's stock fall?
CNBC reported the stock down as much as 8% in one update, and down 6% in a later update.
When did Apple report earnings?
Apple reported its third-quarter earnings on Thursday after the closing bell, with the analyst conference call beginning at 5 p.m. ET, according to CNBC.