StocksMediumUpdated×5•Originally published 3 November 2026•Updated 3 November 2026•
1 min read
Apple Shares Drop 4.5% as Rising Memory Chip Costs Threaten Margins
Key Facts
1US stocks are poised for a lower opening following disappointing earnings results from Apple.
2Investors are closely watching midterm elections that could shift control of Congress.
Apple shares fell 4.5% in premarket trading on Tuesday, November 3, 2026. The decline followed a warning from the company that rising memory chip costs could pressure its profit margins, leading to forward guidance that missed investor expectations.
Apple closed at $338.32 on November 2, 2026, prior to the current slide. In related markets, MSFT closed at $507.12 and META closed at $606.73 on the same date, while Palantir was trading down 5.9% on November 3, 2026.
The US Midterm Elections are taking place today, November 3, 2026, alongside the scheduled release of JOLTs Job Openings and Factory Orders data later in the session.