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Financial Times
Apple forecasts slower growth as AI build-out strains tech supply chains
Apple has projected slower revenue growth of 9-11% for the upcoming quarter, primarily due to increasing strains on its supply chain from the booming AI infrastructure. This forecast falls short of Wall Street expectations of 12% growth, resulting in a 7.5% drop in stock price after hours. While iPhone sales have surged nearly 22% year on year, the company faces challenges, including a significant increase in memory chip prices influenced by AI demand and potential price hikes on its iPhone products.
MonitorConfidence: HighShort term horizonSupply chain risk: High
Published 30 Jul 2026, 22:40 UTC3 min read
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Summary
TL;DR
- Apple forecasts 9-11% revenue growth, under Wall Street's 12%.
- iPhone sales reached $54.3 billion, up 22% year-on-year.
- Stock fell 7.5% after the revenue forecast announcement.
- Memory chip prices surged 300% in Q2 due to AI demand.
- Apple plans to hold iPhone prices to increase market share to 20%.
Interesting facts
- Apple recently reclaimed its status as the world's most valuable company.
- The company saw a revenue boost despite a chip shortage impacting production.
- Apple is expected to stagger the launch of new iPhones to manage supply constraints.