Apple reported its best June quarter ever with $109.4 billion in revenue, but the stock fell 8% after-hours on concerns about slowing Services growth and rising memory costs.
Chinese memory manufacturer CXMT rejected Apple's demand for a price cut, leveraging strong demand from Huawei and Xiaomi, adding supply chain uncertainty.
AAPL's Reddit discussion rank surged 88 spots to No. 9, with r/daytrading showing positive sentiment and active conversation.
Apple Inc. (
The Motley Fool reported that Apple delivered its best June quarter ever under Cook, with $109.4 billion in revenue (up 16% year over year) and strong earnings growth across iPhone and Mac. Despite the record quarter, the stock fell as much as 8% after-hours. Investors focused on slowing Services growth (12% YoY), upcoming supply constraints, rising memory costs, and a valuation already priced at 40x earnings. John Ternus is set to take over as CEO on September 1.
Adding to the supply chain narrative, a report from Korean publication Digital Daily — shared widely on r/wallstreetbets — revealed that CXMT has rejected Apple's demand for a price cut. The Chinese memory manufacturer, which recently surged nearly 500% on its IPO debut, is leveraging strong demand from Huawei and Xiaomi to negotiate from a position of strength. Apple has been lobbying the U.S. government for permission to purchase CXMT chips for its gadgets sold outside the country, making the rejection a potential headwind for cost control.
On r/daytrading, AAPL generated 12 posts with 101 comments and an average sentiment of 0.61, indicating a generally positive tone among active traders. The combination of a post-earnings dip and supply chain headlines created a volatile backdrop that day traders found attractive.
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