Apple shares slide on higher memory cost concerns
In short
Apple shares fell after John Ternus gave his first earnings report as Apple CEO on Monday. He said the memory-pricing environment is “unprecedented” and that costs are expected to rise beyond the quarter ending in December.
This matters because higher memory costs can hurt Apple’s margins. The report does not say how much the shares fell or how big the cost increase may be.
What the reporting says
Apple shares fell as John Ternus, in his first earnings report as Apple CEO on Monday, said the memory-pricing environment is unprecedented. He also said costs are expected to rise beyond the quarter ending in December. The immediate market concern is margin pressure, but the source does not give a price move or exact earnings figures.
Why it matters
Apple shares moved lower after John Ternus, in his first earnings report as Apple CEO on Monday, warned that the memory-pricing environment is unprecedented and that costs may keep rising beyond the quarter ending in December. That points to possible pressure on Apple’s margins and investor expectations. The available summary does not state the size of the share decline, the earnings numbers, or which products are most exposed.