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Apple gained 28 percent over the past year by eschewing heavy cloud AI capital expenditures, but rising memory costs and an elevated price-to-earnings ratio are tightening its operating cushion.
Major technology benchmarks showed split performance as megacap platforms Apple, Amazon, and Microsoft weathered equity market turbulence that weighed heavily on chipmakers and enterprise software providers.
A broad decline across chipmakers and specialized cloud platforms pushed the Nasdaq toward its steepest drop in 19 months, spurred by local election measures blocking data center construction and worsening memory shortages.
Qnity Electronics reported third-quarter revenue of $1.56 billion and raised full-year guidance across sales, operating profit, and cash flow as semiconductor fabrication and AI infrastructure demand gathered pace.
Apple shares slipped 1.87% as market analysts evaluated how rising memory component prices could weigh on the company's margins, alongside broader discussions of bear market risks and enterprise AI productivity tracking.
