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Why Apple shares have slumped – wiping billions from its market value

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleApple's shares experienced their most significant single-day decline in over a year, slumping after the tech giant announced price increases for several products. The Silicon Valley firm's stock fell by 6.1 per cent overnight, erasing approximately $270 billion from its market value. This sell-off was triggered by Apple's decision to hike prices for a number of MacBook and iPad models in response to soaring memory and storage costs. The increase in component costs is attributed to a shortage of memory chips driven by the AI boom.The slump in Apple shares and concerns over memory supply negatively impacted stocks across the tech sector, weighing on global equity markets.In fullApple shares dip after increasing MacBook and iPad pricesThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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