New York, July 9, 2026, 08:01 EDT
Apple was down 0.32% at $312.38 ahead of Thursday’s open, trimming some of Wednesday’s 0.88% gain. The move came as traders looked at Apple’s $30 billion chip deal with Broadcom and a new legal issue in Europe. The stock closed at $313.39 on Wednesday.
Apple is near its 52-week high of $317.40, so investors have little patience for negative news, whether they see supply-chain benefits or higher spending ahead. MarketWatch put Apple’s market cap at about $4.6 trillion.
Nasdaq’s main session was still closed. Premarket trading is before 9:30 a.m. Eastern, while the regular session starts at 9:30 a.m. and ends at 4 p.m. According to the exchange’s holiday calendar, Nasdaq will close for Independence Day on July 3 in 2026, not July 9.
Apple said Wednesday it plans to grow its Broadcom partnership, aiming to ramp up design and production of custom silicon and wireless parts for its own products. The deal should top $30 billion and involve over 15 billion U.S.-made chips. Broadcom is also putting $1.5 billion into expanding its Fort Collins, Colorado sites.
Apple said the chips have FBAR filters, which are radio-frequency pieces that help wireless devices connect with less crowding and interference.
Apple CEO Tim Cook called the deal a “new phase” for the company’s work with Broadcom, linking it to U.S. manufacturing. Broadcom chief Hock Tan said Broadcom is going to add to its “manufacturing footprint in Fort Collins.” Apple
Broadcom shares jumped 4.8% Wednesday after Apple laid out its spending plan. Apple stock was less reactive. Nvidia added 3.65% in a session led by chip stocks, boosted by a report on China’s access to its H200 chips.
Art Hogan, chief market strategist at B. Riley Wealth, told Reuters the Apple equipment announcement looks “pretty positive,” considering the size of Apple’s installed base. The view echoed what many in the market saw: Broadcom lands a clear buyer, while Apple takes more command of its wireless supply chain. Reuters
Apple got a lift this week as JPMorgan’s Samik Chatterjee kept his overweight call and bumped his price target to $345 from $325, according to Investor’s Business Daily.
But the outcome wasn’t one-sided. On Wednesday, Apple lost its case against EU rules that call its App Store and iOS “gatekeepers” under the Digital Markets Act. The law aims to force big platforms to open up to rivals, with possible fines up to 10% of global annual turnover, according to Reuters. Apple said the rules risk weakening privacy and security measures and still has an option to appeal on points of law. Reuters
Futures ticked up Thursday as oil slipped, but the broader market stayed cautious. Traders kept an eye on U.S.-Iran worries and inflation. Mark Haefele, CIO at UBS Global Wealth Management, said the route to peace will be “bumpy.” Reuters
Apple’s next earnings call is set for July 30 at 5 p.m. ET, its investor site shows. That means the Broadcom deal will get a quick check-up. Investors will hear if more U.S. sourcing, higher hardware prices and core device demand are pushing up margins, or if it’s just another variable for a pricey stock.
