New York, Feb 27, 2026, 10:19 EST — Regular session
Apple (AAPL.O) slipped 1.2% to $269.70 during Friday morning trading, putting its market value near $4.0 trillion. Shares had finished Thursday at $272.96. 1
Shares slid after IDC projected a sharp 12.9% drop in global smartphone shipments this year, putting the total at 1.12 billion units as memory chip prices — especially DRAM, which keeps apps running — surge higher. IDC pointed to an AI data center construction boom at Meta, Google, and Microsoft, which is draining chip availability and hitting low-end Android makers hardest. Apple and Samsung, meanwhile, are positioned to grab more market share. “What we are witnessing is not a temporary squeeze, but a tsunami-like shock originating in the memory supply chain,” IDC’s Francisco Jeronimo said. 2
Apple’s shares moved in lockstep with other tech giants, as investors reconsidered valuations around AI-driven growth. Nvidia’s earnings on Thursday didn’t wow the market, prompting Michael Green of Simplify Asset Management to describe the mood as “an Nvidia hangover that’s specific to the AI space.” The Nasdaq shed 1.18%. 3
Legal worries cropped up again. Apple urged a San Jose federal judge to toss out a proposed shareholder class action, which alleges the company exaggerated Siri’s AI strengths and misled investors about following an Epic Games injunction covering App Store fees. “But plaintiff takes a massive and unsupported leap by claiming that securities fraud caused the temporary price drops,” Apple argued. 4
Privacy is still a flashpoint in both Washington and Brussels. Lawmakers in the U.S. House have pushed Britain to explain its technical capability notice to Apple, which might have forced the company to build a “back door” into encrypted user data. The lawmakers want answers by March 11. 5
Bloomberg News says Apple is negotiating with Indian banks and major card networks, looking to roll out Apple Pay in India by mid-2026. Reuters noted it was unable to confirm the Bloomberg report. 6
Insider activity came into focus with a new regulatory filing. Board chair Arthur Levinson disclosed gifting 1,113 Apple shares on Feb. 26, according to an SEC Form 4, and separately received an automatic grant of 1,011 restricted stock units through Apple’s non-employee director stock plan. These RSUs are set to vest in February 2027. Post-gift, Levinson’s direct holdings stood at 4,069,576 shares. 7
Apple kept doubling down on its services push, linking up with Netflix around Formula One programming. For the first time, Netflix is set to stream the Canadian Grand Prix live to U.S. audiences in May, while the fresh season of “Drive to Survive” lands on Apple TV. Eddy Cue, who runs Apple’s services unit, described F1 and Apple TV as a “true partnership.” 8
Still, the prospects for smartphones remain under pressure, even at the high end. If component expenses climb as consumer appetite cools, Apple and its competitors face a tough decision: either bump up prices or watch their margins shrink. Neither option ever sits quite right with investors.
Next week is in focus for traders, with Apple set to kick off product announcements Monday, March 2, ahead of a media “experience” two days later on March 4. CEO Tim Cook hasn’t revealed what’s on deck, so the stock remains reactive to hints about pricing or any AI-related features. 9
