Will Apple's stock close higher on Friday, July 31, the day after Tim Cook's final earnings call as CEO?

Apple shares fell roughly 10% on Friday, July 31, 2026, the day after Tim Cook's final earnings call as CEO, erasing close to $500 billion in market value in the stock's worst single-day drop since March 2020. The selloff came despite Apple beating on revenue and posting record iPhone sales; investors instead focused on weak forward guidance driven by supply-chain constraints. Cook, addressing analysts for the last time before handing the CEO role to John Ternus in September, said component shortages tied to the AI-driven data-center boom were "very significant" and that Apple had limited near-term options to secure enough memory chips and other parts. The drop returned the title of world's most valuable company to Nvidia, which Apple had briefly reclaimed days earlier.

Community forecasters were confident Apple would close higher, with 75% predicting yes, but the stock instead sank on the disappointing outlook, illustrating how forward guidance can outweigh a strong quarter. This closed out Cook's 15-year tenure as CEO with a rocky final trading session, even as he told investors he had never been more optimistic about Apple's future.