Apple Stock Sinks as Much as 6% in After-Hours Trading, Wipes Out $390 Billion in an Hour: Jim Cramer Says It's All 'Memory and Currency'

On Thursday, Apple Inc. (NASDAQ: AAPL ) shares fell sharply despite the company beating Wall Street’s fiscal third-quarter revenue and earnings expectations.

Apple Stock Drops as Supply Concerns Take Center Stage On X, Deepwater Asset Management managing partner Gene Munster said, "The stock turned around slightly with the explanation of why supply constrains get so much worse in September along with a subtle comment from Cook suggesting it would take one quarter to fix it." He also pointed to a comment from Apple CEO Tim Cook suggesting the supply issues could take roughly one quarter to resolve.

Munster said that timeline could mean the impact from September through December would be "neutral to a slight improvement." The $AAPL is over.

Stock down 6.5%, a slight improvement from the down 8% at after-hours session lows.

The stock turned around slightly with the explanation of why supply constrains get so much worse in September along with a subtle comment from Cook suggesting it would take… — Gene Munster (@munster_gene) July 30, 2026 During the earnings call, Cook said the company posted record June-quarter revenue across all geographic segments despite "very significant" supply-chain constraints and foreign-exchange headwinds.

Looking ahead to the September quarter, Cook said Apple expects demand to remain strong but anticipates supply constraints to worsen significantly as flexibility across its supply chain declines.

Read Also: Apple Is the 'Easy Pass' to Consumer AI, Dan Ives Says $390 Billion in Market Value Erased Market commentator The Kobeissi Letter also took to X, saying Apple’s shares extended losses after the company issued weaker-than-expected revenue guidance. "Apple stock, $AAPL, extends losses to -8% after reporting weaker than expected revenue guidance," The Kobeissi Letter wrote on X, adding that the company had erased approximately $390 billion in market capitalization within 60 minutes.

BREAKING: Apple stock, $AAPL, extends losses to -8% after reporting weaker than expected revenue guidance.

The stock has now erased -$390 billion in market cap in 60 minutes. pic.twitter.com/zMqa7E8dOQ — The Kobeissi Letter (@KobeissiLetter) July 30, 2026 Jim Cramer Stays Bullish on Apple CNBC’s Jim Cramer attributed Apple’s challenges primarily to memory supply and foreign exchange rather than broader weakness in its business. "Apple’s issues are all memory and currency … sticking with it," Cramer wrote on X.

Apple's issues are all memory and currency… sticking with it.

Loved that Amazon call — Jim Cramer (@jimcramer) July 30, 2026 Apple Beats Revenue and Earnings Estimates Apple reported fiscal third-quarter revenue of $109.42 billion, exceeding analysts’ expectations of $108.65 billion.

The Cupertino, California-based company posted earnings of $2.02 per share, above the consensus estimate of $1.89 per share.

However, the stronger-than-expected quarterly results were overshadowed by concerns about Apple’s outlook for the September quarter.

Apple projected year-over-year revenue growth of 9% to 11% for the quarter.

The company said foreign exchange would create a 2.5-percentage-point headwind and warned that supply constraints would increase significantly compared with the June quarter.

Price Action: Apple shares closed Thursday’s regular trading session at $333.43, down 1.41%, before falling another 6.33% to $312.33 in after-hours trading, according to Pro.

Edge Rankings place Apple in the 98th percentile for Quality, while the stock continues to demonstrate a positive price trend across short, medium and long-term time frames.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

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