Nov 4, 2026
Apple stock fell 1.9% on Tue, Nov 3 on a weak margin outlook and a China miss
Apple stock fell 1.9% on Tue, Nov 3 after a record September quarter, as its December-quarter margin forecast and Greater China sales came in below estimates. The S&P 500 rose 0.4% and the Nasdaq rose 0.8%.
Sir Toastimir
Footage: Apple, NYSE
Not financial advice. This is a news recap, not a recommendation about any stock.
Apple stock fell 1.9% on Tue, Nov 3, closing at $331.90, down $6.42 from $338.32 on Monday. Based on the 14.53 billion shares Apple reported in its annual report, that is about $93 billion in market value.
The market on Tuesday
The S&P 500 rose 0.36% to 7,568.92 and the Nasdaq Composite rose 0.83% to 25,372.01, led by a rebound in chip and AI stocks. Nvidia rose 2.3% to $206.69.
A record quarter
Apple reported its fiscal fourth quarter, which ended September 26, after the close on Monday, November 2. It was the first report under CEO John Ternus. Revenue was $114.5 billion, up 12% and a record for a September quarter. Earnings per share were $2.10, against about $1.99 expected.
Why Apple fell
Greater China sales were $17.5 billion, up 21% from a year ago, but below the roughly $18.75 billion analysts expected. Apple also guided its December-quarter gross margin to 45% to 46%, below the 46.3% average estimate and down from 47.9% in the September quarter. Apple pointed to higher memory costs. CNBC and Yahoo Finance tied the drop to the weaker margin outlook, and Yahoo Finance also highlighted the China miss.
Footage in the video
Clips are from Apple's official iPhone Duo videos on YouTube, and the NYSE closing bell. Links are below.
Links
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