New York, Feb 12, 2026, 18:57 (EST) — Trading after the bell.
Apple Inc (AAPL.O) plunged 5% to $261.73 on Thursday, briefly touching $260.25 at session lows. After the bell, shares barely budged. That slide erased close to $214 billion from the iPhone maker’s market cap, with trading volume around 81 million shares.
Apple’s slide packs a punch. The company is woven deep into U.S. equity machinery: index funds, options hedges, the whole “megacap” complex that’s dominated Wall Street over the last year. Trouble for Apple? The rest of the tape usually feels it.
Regulation and execution butted heads. Investors are eyeing Apple, curious to see if the company can keep its services and software narrative alive as it introduces new AI-driven features.
Federal Trade Commission chairman Andrew N. Ferguson has fired off a warning letter to Apple CEO Tim Cook, citing reports that the Apple News app favors “left-wing” outlets while pushing down “right-wing” ones. He said “Big Tech companies that suppress or promote news articles” according to viewpoint could, in some cases, run afoul of the FTC Act. 1
Bloomberg says Apple is hitting snags as it tests new Siri features, which could mean some tools originally set for iOS 26.4 get pushed to iOS 26.5 or even iOS 27. Still, Apple told CNBC the overhauled Siri is on track for a 2026 release, according to MacRumors. 2
Apple’s drop capped an ugly session for tech stocks across the board. The Nasdaq shed close to 2%—investors eyeing AI shakeups and bracing for Friday’s U.S. January consumer price index, according to Reuters. “We see this as a ‘prove it’ year for AI,” Jack Herr, a primary investment analyst at GuideStone Funds, said, with investors eager for payback after heavy outlays. Marc Dizard, Huntington Wealth Management’s chief investment officer, called the environment an “in-between zone” with key data still to come. 3
Apple scored a legal victory late in the session, after a Texas jury sided with the company in a lengthy 4G wireless patent dispute with Optis Wireless, Reuters reported. “We’re pleased they rejected Optis’ false claims,” a spokesperson for Apple said. Optis hasn’t responded yet. The companies are set for another round in June, when their appeal heads to the U.K. Supreme Court. 4
Apple’s board authorized a quarterly cash dividend of $0.26 per share, according to company filings. Shareholders on record as of Feb. 9 will receive payment on Feb. 12. 5
Even so, moving from warning letters and rumor-fueled market jitters to a hit on actual earnings isn’t automatic. The FTC’s letter isn’t a lawsuit, and Apple hasn’t announced adjustments to Apple News. On software, the company still has that “2026” target in its back pocket, but investors haven’t been waiting around quietly when it comes to AI delays.
Apple has circled Feb. 24 for its virtual annual shareholder meeting, kicking off at 8:00 a.m. PT. Investors are set to zero in on any new details around the Siri rollout and updates on Apple’s strategy for addressing regulators’ inquiries. 6
