New York, Feb 11, 2026, 11:59 (ET) — Regular session underway.
- Apple shares climbed roughly 2% in late morning, nudging the tech giant’s market cap near the $4 trillion mark once again.
- Bernstein’s analyst bumped up his price target, calling out Apple Intelligence as the next catalyst—despite climbing memory costs.
- Investors are eyeing both a UK regulator’s move on app stores and Friday’s U.S. inflation report.
Apple shares added 1.8% to reach $278.74 late Wednesday morning, lifting the tech giant’s market cap to roughly $4.05 trillion. The stock’s range for the session so far: $272.98 to $279.95.
U.S. stocks staged a broad rebound as tech names jumped, helped by jobs numbers that beat forecasts. “Equities are viewing this favorably,” said Jordan Rizzuto, chief investment officer at GammaRoad Capital Partners. Traders are now eyeing Friday’s U.S. inflation report for clues on where rates might go next. 1
Apple’s near-term focus: will fresh demand come from software upgrades instead of just hardware tweaks? Bernstein’s Mark Newman bumped up his price target, pointing to “the bigger story will be Apple Intelligence / Siri 2.0 coming sometime this year,” though he also noted pricier memory is pushing up iPhone component costs. 2
Regulation remains in play. On Tuesday, Britain’s Competition and Markets Authority announced that Apple and Google have agreed to changes aimed at making their mobile app stores “fairer and more transparent” for developers. The CMA is still scrutinizing commission fees, which can hit 30%. “These are important first steps,” said CMA chief executive Sarah Cardell. Apple, for its part, said it “appreciated the positive and ongoing dialogue” with the watchdog. 3
The CMA wants feedback on the proposed commitments by March 3 and says the measures could kick in April 1 if approved. Among the planned changes: tweaks to app review and rankings, new rules for handling developer data, plus a way for developers to seek expanded access to iOS features. The CMA calls this last piece a move to boost interoperability, or making it easier for competing products to work with Apple’s system. 4
Apple’s earlier caution hangs over things. Following its late-January earnings, the company set second-quarter gross margin guidance at 48% to 49%—that’s the profit after direct costs. CEO Tim Cook flagged a bigger memory chip shortage, warning it would hit results “a bit more of an impact” for this stretch. 5
The latest jobs numbers dropped Wednesday: U.S. payrolls increased by 130,000 in January, while unemployment edged down to 4.3%, according to Reuters. That’s the kind of data likely to keep the Federal Reserve wary about cutting rates, as long as inflation remains stubborn. 6
The bullish scenario comes with weak spots. Memory prices keep rising—unless Apple hikes its own prices, that squeeze shows up in hardware margins. If Apple does try to pass on costs, demand could falter. And regulation? Still lurking, with app-store fees and payment steering drawing fresh scrutiny.
Apple’s annual meeting lands on Feb. 24, this year online. Investors typically scan the event for any stirrings around governance or shareholder motions, though the voting tends to go as expected. 7
Key dates loom for the stock: U.S. inflation data lands Friday, while Apple’s annual meeting hits Feb. 24. The UK regulator’s feedback deadline on app-store commitments follows on March 3.
