Apple heads for $460 billion wipeout with its stock seeing worst post-earnings drop in 13 years
Investors are reacting negatively to weak guidance brought on by supply-chain pressures.
Reported by 1 outlet — MarketWatch. See all sources ↓
Apple's share price fell sharply after its latest earnings report. The drop is the biggest one-day fall after earnings in 13 years. Analysts say the loss could erase about $460 billion of the company's market value. The weak outlook is blamed on ongoing supply‑chain problems.
Why it matters
Many people own Apple stock through funds or retirement plans, so a big drop can affect their savings. It also shows that even large tech companies can feel pressure from global supply issues.
- Why did Apple's stock drop?
- Because the company gave weak future guidance due to supply‑chain pressures.
- How big is the possible loss in market value?
- About $460 billion could be wiped out.
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Apple heads for $460 billion wipeout with its stock seeing worst post-earnings drop in 13 years
Sources1TypeCoverageMarketWatch