Apple shares fell 2.7% in overnight trading after the company forecast its gross margin would keep falling, to 45%–46% in the December quarter from 47.9% in the fourth quarter, due to surging memory chip prices. The warning overshadowed a fourth-quarter report in which total and iPhone sales beat expectations, and the CFO said margins would drop about 1 point sequentially. Memory stocks Micron and SanDisk rose 0.8% and 1%. Deepwater's Gene Muster argued that better-than-expected December-quarter revenue guidance mattered more, while Munster called Apple's silence on personalized AI agents the biggest risk to its ecosystem. Stocktwits sentiment turned 'extremely bearish', though the stock remains up 25% year to date.
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AAPLsemiconductorsmemory chipsearnings
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Related tickers and likely impact
AAPL
▼ Likely negativeApple Inc.
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/02/2026 | 338.32 |
| Change that session | -1.83% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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