Apple Down 8% On Earnings Guidance

AAPL Fellow Club name Apple is down nearly 8% after earnings, almost entirely because of the unprecedented DRAM shortage; it can't compete with the hyperscalers willing to pay whatever it takes to secure memory supply.

The iPhone maker delivered an earnings beat but gave weaker guidance for the current quarter due to supply constraints.

However, CEO Tim Cook, in his final earnings call, had positive things to say about Apple Intelligence, which should raise the iPhone's value and, hopefully, what consumers are willing to pay for the device.

We upped our price target to $340 from $300. - per Cramer Investing Club Newsletter