Apple shares dropped significantly after a weak forecast indicated component shortages. The AI boom is straining global supply chains, impacting chip availability for major tech firms. This situation threatens to shrink both the personal computer and smartphone markets this year. Apple’s services business also showed weakness, worrying investors about future revenue streams. Analysts are questioning Apple’s supply chain leverage and the AI impact on its products.
Reddit stock plunges 30% as Google’s AI search threatens traffic and user growth
Reddit shares plunged 23% after the company warned that Google’s AI powered search features were hurting referral traffic and could lead to a decline in
October 30, 2026