The Main Points
- Apple shares fell 7% after the company issued weaker-than-expected guidance for the current quarter.
- The company cited ongoing supply constraints as the reason for the cautious outlook.
- The guidance miss came just days after Apple briefly touched a $5 trillion market cap and overtook Nvidia as the world's most valuable public company.
- Apple stock had climbed roughly 25% so far this year heading into the report, outpacing most megacap peers.
- The pullback highlights how quickly sentiment can shift even for a company hitting historic valuation milestones.