Apple stock falls on weak revenue forecast as CEO Tim Cook flags 'increasing impact' from memory shortage

Apple stock fell by 10% following a weak revenue forecast from CEO Tim Cook. The iPhone maker warned that supply constraints and a memory shortage, described as a 100-year flood in prices, are creating an increasing impact on operations. These factors, combined with slowing growth, are expected to weigh heavily on the company's results for the current quarter, leading to a significant decline in investor confidence and a sharp drop in the stock price.