Apple’s Worst Day Since March 2020: A ‘100-Year Flood’ Triggered It
Apple lost about $475 billion in market value on July 31 after Tim Cook called memory pricing a hundred-year flood.
Apple's stock price dropped a lot in one day because the CEO said memory chip prices are unusually high right now. When big companies say things are really unusual, it helps you notice when something important is happening in their business.
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