Apple stock plunges: $300 support hangs by a thread after guidance miss (AAPL:NASDAQ) - Seeking Alpha
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- Apple stock plunged after issuing weak forward guidance, with the $300 support level hanging by a thread.
- Apple is set to lose nearly $500 billion in market value as the forecast shortfall triggers a sharp selloff.
Why it matters: Apple's weak guidance triggered a selloff that brought the stock to its $300 support level, with nearly $500 billion in market value at stake. The underlying driver — a memory supply chain crunch — exposed a vulnerability in Tim Cook's supply-chain expertise, the very skill that defined his tenure as CEO.
