Apple Is Down 10%. Should Investors Buy the Dip?

Apple stock fell 10% after reporting record earnings but disappointing guidance. Services revenue missed expectations at $30.7B, and management cited serious DRAM and NAND memory shortages driving up costs. Q4 guidance of 9-11% revenue growth fell short of analyst expectations of 12%. Despite the decline, the company maintains strong product demand with 16% YoY revenue growth, and the memory shortage is industry-wide rather than Apple-specific.