Apple shares tumble 9% on supply worries, on track for worst single-day fall in over 6 years

Apple shares tumbled 9.44% to $301.95 on Friday after the company issued a weak outlook. The stock fell as component shortages strained global supply chains. CEO Tim Cook said the shortages were “very significant.” This drop could wipe nearly $500 billion from Apple’s market value, marking its worst day since 2020.