Apple Shares Fall 2.7% After Company Warns of Further Margin Pressure
Apple said gross profit margin will continue to fall as memory chip prices surge. The warning overshadowed an otherwise upbeat fiscal fourth-quarter report.
Apple, Inc. (AAPL) shares tumbled 2.7% in overnight trading ahead of Tuesday, after the company said that its widely watched gross profit margin will continue to fall due to surging memory chip prices.The forecast took the focus off an otherwise upbeat fiscal fourth-quarter report, with total and i…