New York, Feb 12, 2026, 18:57 (EST) — After-hours
Apple Inc (AAPL.O) shares fell 5% to $261.73 on Thursday and were little changed in after-hours trade, after sliding as low as $260.25. The move shaved roughly $214 billion from the iPhone maker’s market value, with about 81 million shares traded.
The drop mattered because Apple sits at the center of U.S. equity plumbing — index funds, options hedges, and the “megacap” trade that has carried Wall Street for much of the past year. When Apple gets hit, the tape often follows.
Two themes collided: regulation and execution. Investors are watching whether Apple can keep its services-and-software story moving while it rolls out new features tied to AI, short for artificial intelligence.
The Federal Trade Commission’s chairman, Andrew N. Ferguson, said he sent CEO Tim Cook a warning letter about the Apple News app, pointing to reports it boosts “left-wing” sources and suppresses “right-wing” ones. “Big Tech companies that suppress or promote news articles” based on viewpoint may violate the FTC Act under certain conditions, the letter said. (Federal Trade Commission)
Separately, Bloomberg reported Apple is running into problems testing new Siri capabilities and may have to stagger features that had been planned for the iOS 26.4 update into later releases, including iOS 26.5 and iOS 27. Apple told CNBC it is still planning to launch the revamped Siri in 2026, MacRumors reported. (Bloomberg)
The Apple slide came on a rough day for tech more broadly. The Nasdaq fell about 2% as investors weighed AI disruption and waited for Friday’s U.S. January consumer price index report, Reuters reported. “We see this as a ‘prove it’ year for AI,” said Jack Herr, a primary investment analyst at GuideStone Funds, as investors looked for returns on heavy spending; Marc Dizard, chief investment officer at Huntington Wealth Management, said the market was in an “in-between zone” ahead of key data. (Reuters)
Apple also picked up a legal win late in the day, with a jury delivering a defense verdict in a long-running 4G wireless patent fight brought by Optis Wireless in Texas, Reuters reported. “We’re pleased they rejected Optis’ false claims,” an Apple spokesperson said, while Optis did not immediately respond; a related Optis-Apple appeal is scheduled at the U.K. Supreme Court in June. (Reuters)
In company filings, Apple said its board declared a quarterly cash dividend of $0.26 a share, payable on Feb. 12 to shareholders of record as of Feb. 9. (SEC)
Still, the path from warning letters and rumor-driven tape to real earnings damage is not straight. The FTC letter is not a lawsuit, and Apple has not laid out any changes to Apple News; on the software side, Apple has room inside its “2026” window, but investors have shown little patience for slipping timelines in AI.
Next up is a fixed date on the calendar: Apple’s annual meeting of shareholders on Feb. 24, held virtually at 8:00 a.m. PT. Traders will watch for any fresh color on the Siri timetable and how Apple plans to handle the regulator’s questions. (Apple)
