The Zhitong Finance App learned that on Friday, Apple (AAPL.US) opened sharply lower. As of press release, the decline was more than 9%, with a market capitalization of about 4.4 trillion US dollars, falling to the position of the company with the highest market capitalization in the world. According to the news, Apple announced its results report for the third fiscal quarter. Apple's total revenue and iPhone revenue for the third fiscal quarter slightly exceeded expectations, but the performance of the service business and the Chinese market fell short of expectations. The sharp rise in memory prices and the tightening supply of advanced process chips have evolved into the company's biggest hidden business risk, causing the market to doubt the prospects for the upcoming critical holiday sales season.

At the results conference call, Apple executives predicted that the company's revenue for the fourth fiscal quarter, that is, this fiscal quarter, will increase by 9%-11%. The overall guidance range fell short of the 12.1% growth rate expected by analysts. Apple CFO Kevin expects iPhone revenue in the fourth fiscal quarter to be dragged down by supply restrictions, and the growth rate will fall into a double-digit growth range of around 15%. However, after excluding 2.5% of the foreign exchange factor, the growth rate of the service business is expected to be basically the same as 12% in the third fiscal quarter.

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