US Stock Market Move | Supply constraints impact performance guidance; Apple Inc. (AAPL.US) opens significantly lower, dropping over 9%.

On Friday, Apple Inc. (AAPL.US) opened sharply lower, and as of press time, its decline exceeded 9%, with a market capitalization of approximately $4.4 trillion, losing its position as the company with the highest market value in the world. In terms of news, Apple Inc. released its third-quarter earnings report, where total revenue and iPhone revenue slightly exceeded expectations, but performance in its services segment and the Chinese market fell short of projections. Soaring memory prices and tightening supply of advanced process chips are evolving into the company's biggest operational risks, raising concerns in the market about the outlook for the upcoming critical holiday sales season. During the earnings call, Apple Inc. executives projected that the companys revenue in the fourth quarter, which is the current fiscal quarter, will grow by 9% to 11%. This guidance range is overall lower than the 12.1% growth expected by analysts. Apple Inc. CFO Kevan anticipated that iPhone revenue in the fourth quarter would be weighed down by supply constraints, with growth expected to fall into the low double-digit range of around 15%. Meanwhile, growth in the services segment, after excluding a 2.5% foreign exchange impact, is expected to remain roughly in line with the third quarter's 12%.