# Apple stock slips as memory costs squeeze margins in Ternus's first earnings report

> Original title: Apple stock sinks as global memory crisis hurts profits, giving Ternus his first big test

- Source: CNBC · Technology
- Published: 2026-11-03T12:10:31.000Z
- Bad Influence: https://badinfluence.news/items/tg3exg8lauxln85qfx0m7c34u
- Original: https://www.cnbc.com/2026/11/03/apple-earnings-john-ternus-faces-first-test-amid-high-memory-costs.html

## Summary

Apple forecasts a December-quarter gross margin of 45% to 46%, below the 46.3% analyst estimate, citing higher memory costs and Siri AI ramp costs. Shares fell about 3% in extended trading after a nearly 2% drop during regular hours on Monday. Apple reported better-than-expected earnings and revenue, and CEO John Ternus said memory pricing keeps rising beyond the December quarter.