New York, March 3, 2026, 11:12 (EST) — Regular session
- Apple shares slipped almost 1% in late morning trading, with Wall Street under pressure.
- Apple launched the iPhone 17e and iPad Air, and also took the wraps off updated MacBooks built with the new M5 chip.
- All eyes on March 4 for preorders and March 11 for store shelves, while oil and rates remain front and center for investors.
Apple Inc shares slipped almost 1% on Tuesday, with a brisk string of new products failing to counter a sweeping market downturn. By late morning, the stock was off $2.55 at $262.17, putting Apple’s market value near $4.05 trillion.
Apple’s drop is significant—given its heavyweight status in major U.S. indexes, any move ripples out. Big tech, too, has been at the heart of this week’s risk-off mood. Wall Street’s main gauges slid more than 2% as the escalating U.S.-Israeli tensions with Iran sent oil prices climbing and stirred up inflation jitters. “The main concern is that (oil prices) goes to over $100 a barrel and stays there,” said Robert Pavlik, senior portfolio manager at Dakota Wealth. Reuters
Oil prices grabbed the spotlight, with Brent crude climbing roughly 7% on the day, hitting levels not seen since July 2024. Rising shipping risks near the Strait of Hormuz had traders eyeing the potential for sharper supply shocks. “A greater risk to the market would be Iran targeting additional energy infrastructure in the region,” analysts at ING wrote. Reuters
Apple rolled out its iPhone 17e on Monday, pricing it at $599 with 256GB of storage—aiming to shore up its position as competition in the handset space heats up. Under the hood, the device runs an A19 chip built on 3-nanometer tech and features Apple’s own C1X modem, which, according to the company, bumps up cellular speeds while keeping power use lower. Alongside the phone, Apple’s new iPad Air landed with an M4 chip; the 11-inch starts at $599, while the bigger 13-inch model comes in at $799. And separately, the Information reported that Google has looked into providing servers for a coming Siri iteration powered by Gemini. Reuters
Apple’s vice president of Worldwide iPhone Product Marketing, Kaiann Drance, described the iPhone 17e as “a compelling option” for buyers eyeing the iPhone 17 lineup. The company confirmed the phone will launch at the familiar $599 entry price, but now with 256GB of base storage—twice as much as before. Preorders go live Wednesday, with the device hitting shelves March 11. Apple
On Tuesday, the company rolled out updated MacBook Air and MacBook Pro lines, packing M5-series chips and bumping up base storage to lure in buyers as the PC market cools. The 13-inch MacBook Air now starts at $1,099 with 512GB standard. A 14-inch MacBook Pro, equipped with the M5 Pro chip, sets the entry price at $2,199 and comes with a full terabyte, Reuters said. DRAM and NAND flash memory prices have climbed fast, with supply tightening while more chip production shifts to feed AI demand. Reuters
Apple’s senior VP of Hardware Engineering, John Ternus, touted “incredible performance” from the new MacBook Air with M5, billing it as “even faster for AI.” The company is pitching the laptop as the world’s most popular, and said customers can preorder it starting March 4, with units hitting shelves March 11. Apple
Apple is pitching the M5 Pro and M5 Max chips in the MacBook Pro as serious upgrades for heavy-duty tasks, especially when it comes to artificial intelligence (AI) work that stays local—no need to send anything to the cloud. “M5 Pro and M5 Max are a monumental leap forward for Apple silicon,” said Johny Srouji, Apple’s senior vice president of Hardware Technologies. The company pointed to faster memory bandwidth and notable jumps in AI computing power. Apple
Bob Borchers, Apple’s VP of Worldwide Product Marketing, highlighted the new iPad Air’s “incredible AI capabilities” and M4 performance, saying it opens up more ways for users to be creative and productive. Preorders start March 4; the iPad Air hits shelves March 11. According to Apple, the M4 chip boosts speed by up to 30% compared to the previous M3 version. Apple
Some investors are spinning the product launch as more of an earnings catalyst than a hardware headline. Gene Munster, managing partner at Deepwater Asset Management, figures the new iPhone 17e and iPad Air could nudge June-quarter growth past what Wall Street has priced in. He’s not anticipating any “negative surprises” from these rollouts, but does point out Apple’s choice to shoulder higher component costs. Finviz
The refresh cycle hits just as the market grapples with higher component costs, pricier oil, and fresh inflation jitters. Apple faces a choice: hold the line on entry prices as memory and other parts climb, or try to protect margins—either way, traders rarely find comfort in those options when the tape turns red.
Apple wasn’t the only big name sliding. Alphabet shares dropped almost 3%, Nvidia also lost close to 3%, and Microsoft slipped about 0.6%. The sector felt the strain.
Apple’s next test: preorder activity kicking off Wednesday, then the first read on demand as the devices hit shelves March 11. Outside Cupertino, attention turns to Friday and the February U.S. jobs data, set for release at 8:30 a.m. ET on March 6. bls.gov
