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NASDAQ:AAPL 27 April 2026 - 6 May 2026
Apple’s stock showed resilience, falling just 0.4% to $295.79 on June 23, outperforming the broader Nasdaq’s 1.8% drop and a 7.6% slide in semiconductor stocks. Despite recent declines, Apple’s shares still trade at a high multiple of 35.8 times trailing earnings. The company’s performance stands out as it faces industry-wide pressures, including rising memory and storage costs, which have led Apple to announce unavoidable price hikes. Goldman Sachs has cut its 2026 and 2027 smartphone shipment forecasts, citing these higher memory costs and signaling that the AI chip crunch is now affecting even the largest consumer electronics players. Semiconductor stocks have been volatile, with the Nasdaq 100 futures dropping nearly 3% before the open on June 23 and South Korea’s KOSPI falling 9.99% after sharp declines in Samsung Electronics and SK Hynix. SpaceX lost over $600 billion in market value across three sessions and is set to join the Russell 1000 with a 90.4% growth allocation. Meanwhile, Fomo, a crypto trading app, secured $75 million in Series B funding, valuing it at $550 million. U.S. markets were closed for Juneteenth, with the S&P 500, Nasdaq, and Dow all posting gains for the shortened week. Investors are watching upcoming catalysts, including Micron’s earnings and May PCE inflation data, as tests for the tech sector amid ongoing concerns about supply chain constraints and price pressures.