PomegraApple Stock Falls 1.9% on China Miss Despite Record Revenue
Why is Apple stock down today?
Apple (AAPL) stock fell 1.9% to $331.90 on Tuesday after Greater China sales missed estimates and a weak margin outlook overshadowed record $114.5 billion revenue.
Key numbers
| Q4 revenue | $114.5B+12% YoY, record |
|---|---|
| iPhone revenue | $57.6Bbeat ~$56.5B forecast |
| Greater China revenue | $17.5B6.5% below ~$18.8B forecast |
| Next-quarter gross margin guide | 45%–46%vs 47.9% last quarter |
| AAPL close, Nov 3 | $331.90-1.9% |
What happened
Apple (AAPL) stock fell 1.9% to $331.90 on Tuesday after Greater China sales missed estimates and a weak margin outlook overshadowed record $114.5 billion revenue. Apple's sales for the three months to September 26 rose 12% from a year earlier, and iPhone sales of $57.6 billion beat forecasts. Sales in Greater China rose 21% to a record $17.5 billion, but analysts expected about $18.8 billion. Apple also said memory chip costs will push its profit margin down to 45%–46% from 47.9%. Shares were down about 4% in early trading before recovering some losses.
Why it matters
Apple stock fell even though the company sold more than ever, because investors care about future profits as much as past sales. Apple's sales in Greater China (mainland China, Hong Kong and Taiwan) grew 21% but still missed forecasts. Apple also expects pricier memory chips to shrink the profit it makes on each product, which could mean higher prices for iPhones and Macs.
Who this affects
- MarketmixedLow impact
- Apple's drop weighed on the Dow while the Nasdaq rose.
- CompanybearishMedium impact
- Apple shareholders saw about $94 billion of value vanish Tuesday.
- CompetitorsneutralLow impact
- Rivals buying the same memory chips may face higher costs.
- IndustrybearishMedium impact
- Phone and PC buyers may face higher prices.
Apple vs Microsoft, Alphabet
How we got here
Apple reports record $114.5B quarterly revenue after the market closes; Greater China misses forecasts.
Shares fall about 4% in early trading as CEO calls memory pricing "unprecedented".
Apple closes at $331.90, down 1.9%, while the Nasdaq rises 0.83%.
What to watch
- Whether Apple's profit margin lands inside its 45%–46% target as memory chip costs stay high.Q1 FY2027 (Jan 2027)
- Whether Greater China sales keep growing near 21% after the miss.Q1 FY2027 (Jan 2027)
- Memory chip pricing, which Apple expects to stay elevated beyond the December quarter.Q4 2026
Educational content only. Not investment advice.
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