Apple Forecasts December-Quarter Revenue Growth of 7% to 10%
Apple said memory and storage constraints and rising component costs are expected to pressure margins. It warned price increases may not fully offset costs and could hurt consumer demand.
Apple Inc. announced its revenue outlook for the December quarter, forecasting growth between 7% and 10%. The company highlighted that intensifying memory and storage constraints, alongside rising component costs, are expected to weigh on its profit margins. Management warned that potential price increases may not fully offset these cost pressures and could negatively affect consumer demand.
Following the disclosure, Apple's stock declined, and the company was overtaken by Nvidia in total market capitalization.