Shafaqna English– Apple projected that its revenue growth for the fiscal quarter ending in September would fall short of Wall Street’s expectations, primarily because the company continued to face difficulties in sourcing the necessary components to fulfill product deliveries.
Following this announcement, Apple’s stock price dropped by 5.5% during extended trading hours after the market closed.
Both Apple and the broader technology sector have been working intensely to keep up with consumer appetite for new devices, particularly those incorporating advanced processors and high-capacity memory.
In explaining the company’s more cautious revenue outlook, executives emphasized that the constraints were rooted in supply-side challenges rather than any softening of customer demand.