New York, Feb 26, 2026, 16:54 EST — Trading after hours.
- Apple slipped roughly 0.5% by the close, then hovered near flat in after-hours trading
- Tim Cook, Apple’s CEO, pointed to a series of product announcements kicking off Monday.
- IDC’s projection for a steep smartphone drop in 2026 kept attention fixed on pricing and what’s happening with component costs.
Apple slipped 0.5% to finish Thursday’s session at $272.95, with shares sticking close to that level in after-hours. Tech names faded late in the day, and traders now turn to Apple’s upcoming product news.
This shift was notable as risk appetite faded once more across the market. Tech stocks lost their footing after Nvidia’s numbers didn’t push the AI rally any further. The Nasdaq dropped 1.2%, while the S&P 500 shed 0.5%, snapping a two-day runup.
Apple’s got something coming up soon. CEO Tim Cook wrote on X (formerly Twitter): “A big week ahead. It all starts Monday morning! #AppleLaunch.”
Apple wrapped up the day with a market cap near $4.05 trillion, a sharp reminder of just how fast index-driven flows can shift when sentiment turns for megacaps. The stock barely budged after hours.
Fundamentally, investors are grappling with a rougher handset market while Apple’s price power keeps expectations afloat. According to IDC, global smartphone shipments could tumble 12.9% in 2026 as pricier memory chips push up device costs. Even so, IDC sees Apple and Samsung picking up share, with smaller brands likely to falter. “What we are witnessing is not a temporary squeeze, but a tsunami-like shock originating in the memory supply chain,” said Francisco Jeronimo at IDC. Reuters
Memory chips—known as DRAM—sit at the heart of data storage for active tasks, powering heavier apps on smartphones. As prices climb, cheaper brands take the initial hit. Apple, with its premium lineup, has some cushion, though its margins aren’t immune if those costs outpace what it can charge.
Geopolitical and governance issues stayed in focus after a new filing. Apple disclosed that shareholders shot down the “China Entanglement Audit” proposal during its Feb. 24 annual meeting. However, they did back executive compensation and the choice of auditor.
Eyes are on Friday’s U.S. producer price index (PPI) report—a number that can jolt rate bets if it comes in off the mark. The Bureau of Labor Statistics plans to release the January data on Feb. 27 at 8:30 a.m. ET.
For Apple, the short-term risk boils down to next week’s rollout sticking the landing. If the announcements come off as merely incremental, or if traders keep zeroed in on sluggish demand and rising component costs, the shares could face pressure—no major missteps from the company needed.
Apple’s next big mover comes Monday, with Cook flagging that as the start of launch week. According to Engadget, the company’s slate of product announcements kicks off on the morning of March 2.
Next up: all eyes on the February U.S. jobs data, hitting at 8:30 a.m. ET on March 6. The report regularly jolts forecasts for both growth and Fed moves.
