Apple slides as supply snags cloud outlook, putting iPhone demand in focus

July 31 : Apple shares dropped 7.3 per cent before the bell on Friday as the tech giant warned that supply constraints would hurt growth, prompting investors to look beyond near-term shortages to gauge the hit from an expected iPhone price hike.The decline puts Apple on track to shed roughly $361.6 billion in market value, if the losses hold.The company's outlook highlighted a broader industry challenge, with AI-driven demand tightening supplies of advanced chips and memory, driving up costs and prolonging supply-chain bottlenecks across the technology sector.Apple said on Thursday that shortages of advanced chipmaking capacity were limiting supplies of iPhones, Macs and some iPads, with Chief Executive Tim Cook saying supply constraints, rather than weak demand, was driving the softer out