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Apple’s memory crunch weighs on quarter, but outlook supported
CNBC Earnings said Apple delivered a quarter that was generally positive but fell short of “great,” as the company worked to mitigate a memory shortage.
The memory shortage affected the reported results for the quarter and also influenced Apple’s guidance, even as the broader performance was viewed as having enough strength to support a more favorable take than the headline weakness might suggest.
CNBC Earnings also cited an analyst price target increase, pointing to “plenty of good” around Apple’s trajectory despite the memory-related headwinds.
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