Affected by the weak demand caused by the situation in the Middle East, cochlear implant manufacturer Cochlear has lowered its profit expectations, causing its stock price to plummet by nearly 39%.

Australian cochlear implant manufacturer Cochlear on Wednesday lowered its full-year profit outlook, citing market uncertainties and weakening demand due to the conflict in the Middle East. The company's stock price plummeted by nearly 39% after the announcement. This profit warning is another example of Australian and New Zealand companies issuing consecutive warnings on performance. The ongoing impact of the Middle East conflict continues to disrupt global supply chains, fuel costs, and consumer confidence, reshaping the profit landscape for companies across Oceania. Cochlear now expects its core net profit for the 2026 fiscal year to be between 290 million and 330 million Australian dollars, significantly lower than the previously announced expectations of 435 million to 460 million Australian dollars. The stock of this company, which was once one of the highest-priced companies in the country, crashed by as much as 38.6% to 103.07 Australian dollars, its lowest level since mid-April 2016, with a market value evaporating by about 4.24 billion Australian dollars.