{"slug": "apple-shares-plummet-by-nearly-10-per-cent-after-iphone-report", "title": "Apple shares plummet by nearly 10 per cent after iPhone report", "summary": "Apple Inc. shares fell nearly 10% on Friday after the company forecast weaker-than-expected revenue growth for the current quarter, citing component shortages driven by the AI-driven data centre boom. The drop could erase nearly $500 billion from Apple's market capitalisation, potentially ceding the title of the world's most valuable company to Nvidia. CEO Tim Cook described the shortages as \"very significant,\" and Apple's revenue growth forecast of 9-11% fell short of Wall Street's 12% estimate.", "body_md": "# Apple shares plummet by nearly 10 per cent after iPhone report\n\n- Apple's shares fell by nearly 10 per cent on Friday following a forecast indicating the iPhone maker's struggle to meet demand.\n- The company is facing significant component shortages, primarily due to the “AI-driven data centre boom” (dubbed RAMageddon) straining global supply chains for chips.\n- This potential drop could wipe out nearly $500 billion from Apple's market capitalisation, potentially ceding the title of the world's most valuable company back to AI chip giant Nvidia.\n- Tim Cook, Apple's CEO, described the shortages as “very significant”, noting the company has limited options to address the supply chain issues.\n- The company's revenue growth forecast of 9-11 per cent for the current quarter fell short of Wall Street's 12 per cent estimate, alongside concerns about softer growth in its services business.", "url": "https://wpnews.pro/news/apple-shares-plummet-by-nearly-10-per-cent-after-iphone-report", "canonical_source": "https://www.independent.co.uk/bulletin/news/apple-iphone-stock-shares-b3025970.html", "published_at": "2026-08-02 09:10:08+00:00", "updated_at": "2026-08-02 09:32:38.374283+00:00", "lang": "en", "topics": ["ai-infrastructure"], "entities": ["Apple Inc.", "Tim Cook", "Nvidia"], "alternates": {"html": "https://wpnews.pro/news/apple-shares-plummet-by-nearly-10-per-cent-after-iphone-report", "markdown": "https://wpnews.pro/news/apple-shares-plummet-by-nearly-10-per-cent-after-iphone-report.md", "text": "https://wpnews.pro/news/apple-shares-plummet-by-nearly-10-per-cent-after-iphone-report.txt", "jsonld": "https://wpnews.pro/news/apple-shares-plummet-by-nearly-10-per-cent-after-iphone-report.jsonld"}}