Apple Stock Sinks as Much as 6% in After-Hours Trading, Wipes Out $390 Billion in an Hour: Jim Cramer Say

On Thursday, Apple Inc.

(NASDAQ:AAPL) shares fell sharply despite the company beating Wall Street’s fiscal third-quarter revenue and earnings expectations.

Apple Stock Drops as Supply Concerns Take Center Stage On X, Deepwater Asset Management managing partner Gene Munster said, "The stock turned around slightly with the explanation of why supply constrains get so much worse in September along with a subtle comment from Cook suggesting it would take one quarter to fix it." He also pointed to a comment from Apple CEO Tim Cook suggesting the supply issues could take roughly one quarter to resolve.

Munster said that timeline could mean the impact from September through December would be "neutral to a slight improvement." The $AAPL is over.

Stock down 6.5%, a slight improvement from the down 8% at after-hours session lows.