StocksMediumUpdated•Originally published 3 November 2026•Updated 3 November 2026•
1 min read
Apple and Oracle Shares Fall Despite Record Apple Earnings as Memory Costs Weigh
Key Facts
1Apple shares fell 4.5% in premarket trading following a disappointing margin forecast and services growth outlook.
2Apple projected services revenue growth between 8% and 9%, missing analyst estimates of 12%.
3Oracle shares dropped 8.8% amid broader technology sector selling pressure.
Apple reported record earnings for the September quarter, yet its shares fell 4.5% in premarket trading due to rising memory costs. KuCoin reported that these costs are pressuring the company's margin outlook for the holiday season, with Apple targeting a gross margin between 45% and 46%.
The company projected services revenue growth of 8% to 9%, missing analyst estimates of 12%. Amid broader tech pressure, Oracle shares dropped 8.8%. Apple closed at $338.32 and Oracle closed at $119.22 on November 2, 2026, while MSFT and META closed at $507.12 and $606.73 respectively on the same date.