Apple Stock Slips After Earnings: Can $280 Hold the Line for a New All-Time High?

Apple (AAPL) stock opened sharply lower on Friday at $304, down more than 9%. Weak fiscal fourth-quarter guidance overshadowed a record June quarter that beat estimates on revenue and earnings.

Shares closed Thursday at $333.43, down 1.41%, days after Apple briefly touched a $5 trillion valuation.

Record Quarter Meets Cautious Guidance

Apple reported June-quarter revenue of $109.42 billion, above the $108.65 billion consensus. Earnings per share reached $2.02, well above the $1.89 estimate. The full results showed revenue up 16% year over year, a June-quarter record.

iPhone revenue climbed 22% to $54.25 billion, while Mac sales jumped 29% to $10.35 billion. However, Services revenue of $30.74 billion and Greater China sales of $18.82 billion both missed forecasts.

The outlook did the real damage. CFO Kevan Parekh guided September-quarter revenue growth of 9%–11%, below the roughly 12% analysts expected. He cited supply constraints, currency headwinds, and a memory cost squeeze driven by AI demand for DRAM and NAND chips.

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