Apple Profit Jumps 27% But Stock Falls on Weak Outlook
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- Apple shares fell despite posting record quarterly revenue, with the slump driven by a forward outlook that investors read as disappointing (Euronews.com, Yahoo Finance)
- Apple reported profit up 27% for the quarter, but the earnings call was Tim Cook's final one, where he warned of a '100-year flood' in memory chip pricing (Fortune)
Why it matters: Investors punished Apple shares despite a 27% profit gain because forward guidance disappointed, and Tim Cook used his final earnings call to flag a '100-year flood' in memory chip pricing — handing his successor both a margin squeeze and the task of restoring Wall Street confidence.
