Apple Shares Fall 7.3% Over Supply Constraints

Apple’s stock dropped about 7% before the market opened because the company said it can’t make enough iPhones and other devices right now.

The problem is that new computer chips are hard to get, especially ones that use artificial‑intelligence technology.

Apple still expects its sales to grow, but a little slower than analysts thought.

The company plans to raise iPhone prices later this year, but investors worry that higher prices might make people buy fewer phones.

Tim Cook, Apple’s long‑time boss, will leave the company in September and be replaced by John Ternus.