Apple set to lose nearly $500 billion in value after weak forecast
Apple shares fell nearly 10% following a disappointing forecast, signaling struggles with supply chain pressures linked to AI data center demand. This decline could erase nearly $500 billion from Apple's market capitalization, potentially returning the title of the world's most valuable company to Nvidia. Tim Cook described the shortages as 'very significant' during his final earnings call before transitioning to executive chairman in September.