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Bank of America forecasts weaker December quarter for Apple, CNBC reported

CNBC reported on Oct 30, 18:30 UTC that Bank of America forecast a much weaker December-quarter for Apple, mentioning rising memory-chip costs and investor focus on Apple’s first earnings report under John Ternus.

MarketAlleys Research Desk

Published · 3 min read

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Illustration for: Bank of America forecasts weaker December quarter for Apple, CNBC reported
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What happened

CNBC reported on Oct 30, 18:30 UTC that Bank of America forecasts a much weaker December quarter for Apple. The article was written by MacKenzie Sigalos. CNBC’s summary states the note highlights rising memory-chip costs and outlines what investors are watching in Apple’s first earnings report under John Ternus.

Stocks market context

As of Oct 30, 20:00 UTC, Finnhub quotes showed: SPY ETF $755.72 fell 1.77% from the prior close; QQQ ETF $690.49 fell 3.47% from the prior close; Apple $344.63 fell 1.23% from the prior close; NVIDIA $204.64 fell 4.22% from the prior close; Microsoft $521.91 fell 1.55% from the prior close; Amazon $240.35 fell 1.41% from the prior close; Alphabet $279.84 fell 1.40% from the prior close; Meta Platforms $614.99 fell 1.53% from the prior close; Tesla $399.81 fell 0.87% from the prior close; and JPMorgan Chase $337.04 fell 1.90% from the prior close.

Instrument Last Change Basis As of Source
S&P 500 (via SPY ETF) $755.72 -1.77% vs prior close Oct 30, 20:00 UTC Finnhub
Nasdaq 100 (via QQQ ETF) $690.49 -3.47% vs prior close Oct 30, 20:00 UTC Finnhub
NVIDIA $204.64 -4.22% vs prior close Oct 30, 20:00 UTC Finnhub
Apple $344.63 -1.23% vs prior close Oct 30, 20:00 UTC Finnhub
Microsoft $521.91 -1.55% vs prior close Oct 30, 20:00 UTC Finnhub
Amazon $240.35 -1.41% vs prior close Oct 30, 20:00 UTC Finnhub
Alphabet $279.84 -1.40% vs prior close Oct 30, 20:00 UTC Finnhub
Meta Platforms $614.99 -1.53% vs prior close Oct 30, 20:00 UTC Finnhub
Tesla $399.81 -0.87% vs prior close Oct 30, 20:00 UTC Finnhub
JPMorgan Chase $337.04 -1.90% vs prior close Oct 30, 20:00 UTC Finnhub

Yahoo published headlines including "What Apple Doubters Got Wrong" and "Apple Set to Dethrone Nvidia as Largest Company by Market Cap." Business‑Standard published "Apple overtakes Nvidia to become world's most valuable company at $5.03 trn."

What to watch

AAPL Q4 2026 earnings is scheduled Mon Nov 2 (after the close). BRK.A Q3 2026 earnings is scheduled Mon Nov 2 (time not confirmed).

  • Mon Nov 2 (time not confirmed) — BRK.A Q3 2026 earnings · EPS estimate 9253.77
  • Mon Nov 2 (after the close) — AAPL Q4 2026 earnings · EPS estimate 2.02
  • Mon Nov 2 (after the close) — TBBB Q3 2026 earnings · EPS estimate -1.33
  • Tue Nov 3 (before the open) — MPC Q3 2026 earnings · EPS estimate 24.57
  • Tue Nov 3 (before the open) — ET Q3 2026 earnings · EPS estimate 0.41
  • Tue Nov 3 (before the open) — BG Q3 2026 earnings · EPS estimate 2.50

Sources and data

  • CNBC (secondary source) — Bank of America forecasts a much weaker December quarter for Apple
  • Yahoo (secondary source) — What Apple Doubters Got Wrong
  • business-standard.com (secondary source) — Apple overtakes Nvidia to become world's most valuable company at $5.03 trn
  • Finnhub (market data) — market data

Market data as of Oct 30, 20:00 UTC; report generated Oct 31, 17:50 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.

Terms in this article

Sources & data

  1. CNBC (secondary, retrieved Oct 31, 2026, 05:51 PM UTC)
  2. Yahoo (secondary, retrieved Oct 31, 2026, 05:51 PM UTC)
  3. business-standard.com (secondary, retrieved Oct 31, 2026, 05:51 PM UTC)
  4. Finnhub (market-data, retrieved Oct 31, 2026, 05:51 PM UTC)

Market data as of Oct 30, 2026, 08:00 PM UTC.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.

Ask about this story

Questions are answered only from this article and the sources it cites.

MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.

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