Apple raises prices on key products to offset rising component costs, triggering its largest single-day decline in over a year.
Apple Inc. (AAPL) shares fell more than 6% on Thursday, marking the company’s steepest daily loss in over a year. The decline followed the announcement of price hikes for MacBook and iPad models, aimed at countering surging component costs.
The move comes as supply chain pressures and inflation continue to squeeze margins across the tech sector. Apple’s last major price adjustment for these products occurred in 2022, amid similar cost challenges. Analysts had anticipated some pricing action but not at this scale.
The sell-off erased over $150 billion in market capitalization, reflecting investor concerns about demand elasticity and margin compression in a high-inflation environment.