- Apple'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.
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