New York, Feb 26, 2026, 10:45 ET — Regular session in progress.
- Apple dropped roughly 1% early, snapping a run of two consecutive advances.
- Investors looked at fresh signs of U.S. manufacturing growth while also keeping an eye on a shareholder vote tied to China supply-chain risks.
- An influential analyst raised the price target, though the rating remains neutral.
Apple slipped around 1% to $271.41 during the morning session, pulling back after a two-day rally that had brought the stock within about 6% of its 52-week peak.
The decline caught attention as major tech stocks came under pressure again Thursday, following Nvidia’s latest earnings. Investors took a hard look at how much future growth might already be baked into valuations. That kind of sentiment usually drags on Apple and other big tech stocks right away, given their hefty presence in top indexes.
This week, Apple’s headlines have veered political. The tech giant is touting its U.S. manufacturing efforts and shifting supply chains, moves coming as pressure mounts over how much of its operations remain tied to China.
Apple announced Tuesday it plans to ramp up factory work in Houston and, for the first time, shift Mac mini production to the U.S. before the year is out. The tech giant also flagged boosted AI server operations and is setting up a new training center. CEO Tim Cook noted that advanced AI servers have already begun shipping out of Houston, “ahead of schedule.” Apple
Investors at the company’s annual shareholder meeting on Feb. 24 rejected a call for a report detailing manufacturing reliance on China, Reuters reported. Cook, speaking at the meeting, said Apple plans to continue making “strategic investments”—AI among them, according to the report. Reuters
MoffettNathanson bumped its Apple price target to $270, up from $241, though it stuck with a “Neutral” rating. Analysts cited shifting projections around memory costs and tariffs in the model. A price target reflects where an analyst thinks a stock might head; “Neutral” roughly lines up with a hold. Investing.com
Smartphone makers are feeling the pinch on costs. Samsung rolled out its Galaxy S26 lineup, tacking on price hikes in major markets as memory chip prices climb on the back of the AI surge, Reuters reported. That’s putting demand to the test while component supplies remain constrained.
U.S. stocks slipped Thursday morning, tech names dragging the indexes down. Nvidia’s latest results didn’t do much to calm doubts over how long the AI rally can hold.
Still, Apple supporters face stubborn issues that short-term news doesn’t resolve: the speed of cost shifts across the supply chain, the margin impact of tariffs, and whether diversification is enough to meaningfully cut China risk within a practical window.
Friday brings the U.S. Producer Price Index for January, set for an 8:30 a.m. ET drop—this release tends to shake up rate forecasts and, in turn, the valuations buyers assign to megacap tech.
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