NEW YORK, Feb 16, 2026, 10:02 AM EST — The market has closed.
- Apple slipped roughly 2.3% to finish at $255.78, with the drop coming just before the U.S. market holiday.
- Investors are once again scrutinizing big tech, casting doubt on the payoff from massive AI investments and putting valuations under the microscope.
- Coming up: Fed minutes land Feb. 18, with Apple’s annual shareholder meeting set for Feb. 24.
Apple Inc shares slipped roughly 2.3% to $255.78 on Friday. With U.S. markets closed Monday for Presidents Day, investors now face a pause before big tech can react when trading starts up again Tuesday.
So, Apple and the other megacaps hit the brakes, facing a new mood in the tape. Investors who once chased artificial intelligence at any cost now want to see when the spending finally delivers profit.
By early 2026, the tech heavyweights have lost staggering sums—billions, sometimes hundreds of billions—wiped from their market caps. Investors are starting to wonder if pouring so much money into AI will actually pay off at the levels those high valuations suggest, according to a Reuters analysis.
Apple shares now move less on iPhone headlines and more as a stand-in for the bigger “AI trade”—at least on a daily basis. Instead of boosting all tech stocks together, the market’s sorting out who it thinks will win and who won’t.
“You’ve clearly seen that breakdown in terms of the monolithic AI trade,” said Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions, speaking to Reuters in a recent interview. Reuters
Apple is dealing with another round of regulatory attention. Last week, the U.S. Federal Trade Commission’s chairman pressed Apple CEO Tim Cook on claims Apple News favors left-leaning publishers while limiting exposure for conservative content, cautioning that actions outside consumer expectations “may violate the FTC Act.” Reuters reached out to Apple for comment, but the company hasn’t responded yet. Reuters
Traders are keeping an eye on the Federal Reserve’s meeting minutes set for Wednesday, combing through the details of the central bank’s policy debate as interest-rate bets keep driving big-tech stocks. Also landing that day: fresh numbers on housing starts and durable goods orders, per the U.S. Census Bureau’s schedule.
For Apple, the next big event lands on Feb. 24: that’s when the annual shareholder meeting kicks off at 8:00 a.m. Pacific.
After pulling back from recent highs, the stock may face a new test: some investors aren’t simply diving back into those crowded megacap tech bets. Instead, they’ll be watching for any hint that risk appetite in the sector has found its footing when markets open again.
The flip side is hard to miss: when investors view AI mostly as an expense with no clear return, and regulatory issues pile higher, Apple risks sliding along with peers—even during a routine, uneventful week for the company.
Big catalysts are coming up fast. U.S. markets get back to business Tuesday. Not long after, all eyes will turn to the Fed minutes on Feb. 18, with Apple’s annual meeting set for Feb. 24.
