New York, February 23, 2026, 07:52 EST — Premarket
AAPL lost 0.7% before the bell Monday, ticking down to $262.69 in premarket moves after closing out Friday at $264.58.
Stock index futures linked to the S&P 500, Nasdaq, and Dow slipped after fresh uncertainty around tariffs re-emerged. President Donald Trump rolled out a new 15% global duty following a U.S. Supreme Court decision that voided much of last year’s tariffs, sending investors scrambling to gauge the hit to supply chains. “It’s really hard … what the tariffs are going to look like,” said Arthur Laffer Jr., president of Laffer Tengler Investments. Reuters
Apple’s core business is straightforward: premium hardware, global supply chain. If import tariffs swing abruptly, that bites into margins—or puts Apple’s pricing power to the test as buyers face steeper tags.
U.S. Customs and Border Protection plans to stop collecting tariffs set under the International Emergency Economic Powers Act, or IEEPA, beginning at 12:01 a.m. EST on Tuesday. The agency will also deactivate the corresponding tariff codes. There’s no word yet on refunds. Other tariff regimes stay in place. A new 15% global levy, meanwhile, is on track to replace the scrapped duties.
While political news swirled elsewhere, a fresh research note highlighted a brighter spot for Apple’s main business line. Omdia reported that Europe’s smartphone shipments slipped 1% in 2025, landing at 134.2 million units. Apple, though, managed a 6% increase to 36.9 million iPhones, pushing its market share to an all-time high of 27%. Samsung remained the top player, Xiaomi held steady in third. “Europe’s five largest smartphone vendors continued to gain combined share, reflecting the importance of scale for long-term success in the region,” said Runar Bjorhovde, senior analyst at Omdia, who also pointed to memory pricing as a new concern for 2026. Omdia
Back on Jan. 29, Apple dialed up its guidance, telling investors to expect fiscal second-quarter revenue to rise between 13% and 16%. CEO Tim Cook flagged processor shortages at the time: “We’re currently constrained. And at this point, it’s difficult to predict when supply and demand will balance.” Reuters
The flipside isn’t tough to picture. Should the 15% levy stick around, or expand to cover electronics and components, Apple might see its costs climb more quickly than it can offset through higher prices—particularly if demand starts to weaken.
Tuesday brings a near-term check-in for investors: Apple’s annual shareholder meeting is set for 8 a.m. Pacific (11 a.m. ET), and it’ll be virtual again this year, according to a proxy filing. On the agenda: executive compensation, plus a shareholder push for a “China Entanglement Audit”—something Apple’s board wants to block. SEC
Next up: March 4. That’s when Apple hosts what it’s calling a “special Apple experience,” with the tech press on the invite list. The company is widely expected to wrap up a recent string of product reveals with this event. techcrunch.com
