NEW YORK, June 28, 2026, 10:03 (EDT)
- Apple Inc. NASDAQ:AAPL ended Friday at $283.78 for a daily gain of 3.14%. Shares were still off around 4.8% from last week’s close.
- Apple traded 261.8 million shares on Friday, roughly five times its 65-day average volume. Second half of the week was heavy: Thursday and Friday together accounted for 71% of all Apple shares traded for the week.
- Apple accounts for 6.80% of the Invesco QQQ Trust NASDAQ:QQQ. U.S. stock markets are closed Friday, July 3, for the Independence Day holiday.
Apple closed out a tough week with a rebound. Volume told the story. The 261.8 million shares traded Friday was a bit more than half of the stock’s total weekly volume, with Thursday and Friday accounting for most of the action. Shares still slid to $283.78 from last week’s close of $298.01.
Apple lost about $209 billion in equity value this week as its shares fell $14.23, based on 14.69 billion shares out. The stock bounced $8.63 Friday, adding back about $127 billion. That day’s gain was big, but didn’t make up for the week’s loss.
Index numbers didn’t help. Apple jumped 3.14% Friday, and with a 6.80% weight in QQQ, that should have lifted the ETF by around 21 basis points before the rest of the basket traded. But QQQ ended down 1.35%. Selling in chip stocks pushed the fund lower, erasing Apple’s gain.
Apple bumped up prices on iPads and MacBooks Thursday as higher AI chip demand pushed up memory and storage costs. The MacBook Air with 512GB now lists at $1,299, up from $1,099 before. The iPad Air with 128GB rose to $749 from $599. iPhone prices did not change.
Apple and analysts are warning about memory costs. “The memory environment is tough,” said Ben Bajarin, CEO of Creative Strategies. Apple CEO Tim Cook, speaking to analysts in April, said, “We expect significantly higher memory costs.” IDC’s Nabila Popal also said an iPhone price hike “is coming.” Reuters
Apple is looking to boost supply. Reuters said Saturday, citing the Financial Times, that Apple has been lobbying the Trump administration to let it buy memory chips from ChangXin Memory Technologies, a Chinese firm on a Pentagon blacklist. Reuters said Apple, the White House and CXMT didn’t respond to requests for comment outside normal business hours.
Investors head into the week focused on whether demand can keep up with price hikes to protect margins. A new memory source could lower cost pressure but first needs Washington’s approval. The stock is behaving less like an iPhone upgrade cycle play and more like a bet on memory costs.
Apple (AAPL) moved up 3.1% on Friday, even as the PHLX chip index dropped 5.3%. Last week, the S&P 500 slid 2.05%, Nasdaq dropped 4.7%, and the chip index had its worst week since early April, losing 7.9%. The broader tape did little for Apple.
“Questions around profitability and the capex story are certainly not going away,” said David Stubbs, chief investment strategist at AlphaCore Wealth Advisory. Art Hogan, chief market strategist at B. Riley Wealth, said the memory shock was creating “renewed inflationary pressure.” Reuters
Supply-chain risk didn’t go away. On Friday, Reuters said Tata Electronics, an Indian supplier to Apple, cut access to sensitive internal systems after thousands of secret client files leaked onto the dark web. Reuters was unable to verify if the data was authentic.
Short week ahead for traders as U.S. stock markets will be closed Friday, July 3 for Independence Day, according to Nasdaq. That leaves four sessions for funds to move positions before the holiday. Apple is watching $273.75, the low from Thursday. If the stock slips under that, Friday’s rebound could lose steam and signal more sideways action instead of recovery.
