Apple lost $426 billion in market capitalization over two days after reporting its best third quarter in five years. Net sales grew 16.4% year over year, driven by a 21.7% increase in iPhone sales and an 18.1% overall increase in product sales, marking the first third quarter since fiscal 2021 where products outpaced services growth. Despite the strong results, the stock fell 7.4% on July 31 as Wall Street reacted to concerns that June price increases on Mac, iPad, Apple TV, HomePod, and Vision Pro may have pulled forward demand ahead of the September iPhone 18 Pro launch, and that consumers facing inflationary pressures could resist higher prices. Apple guided for just 9% to 11% year-over-year net sales growth for the fourth quarter of fiscal 2026, suggesting some caution about consumer demand. Rising memory chip costs and supply chain constraints are also pressuring margins, though Apple is introducing a leasing program with Klarna starting at $17.99 per month to make purchases more affordable.
Apple Inc.June price increases on Mac, iPad, Apple TV, HomePod, and Vision Pro may have pulled forward demand and face consumer resistance, contributing to the stock drop.
Klarna Group plcApple introduces a leasing program with Klarna to make purchases more affordable, potentially boosting Klarna's usage.