- Apple beat Q4 earnings and revenue expectations.
- CEO John Ternus said memory price increases are unprecedented and expected to continue.
Apple shares fell 3.7% premarket despite beating Q4 estimates. CEO cited unprecedented memory price increases. Gross margin guidance of 45-46% missed expectations of 46.5%. KeyBanc downgraded with $250 target; Citi remains bullish with $365 target.
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