Apple slides as memory-cost headwinds weigh on margins

Apple stock fell about 10% after Tim Cook warned a global memory shortage is driving higher memory costs and processor-supply constraints, which could weigh on margins even as Q3 revenue rose to $109.4 billion and EPS came in at $2.02. The piece notes memory-price pressures, potential price hikes for Macs and iPads, a new iPhone leasing program, and a leadership transition to John Ternus that could affect iPhone margins and Services growth.