New York, Feb 24, 2026, 10:05 (ET) — Regular session.
- Apple shares rose about 3% to $274.23 in morning trade.
- The gain followed Apple’s plan to move some Mac mini production to Houston later this year.
- Investors are weighing shifting U.S. tariff rules and Apple’s shareholder meeting later Tuesday.
Apple shares climbed about 3% to $274.23 by 10:00 a.m. ET on Tuesday after the company said it will shift some Mac mini production from Asia to Houston later this year. The Dow was up 0.4% and the Nasdaq was up 0.2% at the same time, while the S&P 500 was little changed. (Google)
The move landed as Washington’s trade rules lurch again. A customs notice showed a new 10% tariff took effect just after midnight on Tuesday, while the timing of a move to 15% remains unclear and could draw fresh legal challenges. “We can all agree that the U.S. is not facing a balance of payments crisis,” IMF official Gita Gopinath told Reuters. (Reuters)
Markets were still digesting Monday’s hit. The S&P 500 closed down 1% and the Dow shed 821.91 points, or 1.7%, as investors reacted to tariff uncertainty and fresh worries about artificial intelligence disrupting parts of the economy. (AP News)
Apple, in its announcement, said the Houston buildout will bring Mac mini production to the United States for the first time and expand manufacturing of its advanced AI servers at the site. It also said a 20,000-square-foot Advanced Manufacturing Center in Houston will open later this year to train students, supplier staff and other U.S. businesses. “Apple is deeply committed to the future of American manufacturing,” Chief Executive Tim Cook said. (Apple)
Separately, Morgan Stanley pointed to firmer services trends. Analyst Erik Woodring said App Store net revenue growth was running at 9% year on year month-to-date in February, and wrote that “March quarter App Store revenue would end the quarter in line with our +8% Y/Y forecast.” Services is Apple’s high-margin business that includes the App Store and subscriptions. (Investing)
The stock’s move stood out because the day’s headline was about a desktop computer, not the iPhone. Traders focused instead on what the Houston expansion says about costs, timing and political risk, with tariffs back on the front page.
But the shift is limited. The Verge reported the Mac mini accounts for less than 1% of Apple’s total sales and that production will continue in Asia, with no current plan to move iPhone manufacturing to the United States. (The Verge)
If tariff rates rise or exemptions narrow, hardware makers could still face higher costs and more friction as components and finished goods cross borders. That leaves Apple exposed to policy headlines even if it grows more U.S. capacity around the edges.
Next up: Apple’s annual shareholder meeting is scheduled for 8:00 a.m. Pacific time on Tuesday, in a virtual format, according to its investor relations site. Investors will be listening for any extra detail on the Houston buildout, supply chain exposure and how management frames tariffs. (Apple)
