Shares of Apple Inc. (NASDAQ: AAPL) have been trading around $280 recently, having given up all the gains they logged since the first week of May. The stock had been on a steady recovery toward its earlier highs of around $317, supported by a strengthening AI narrative and last week's strategic partnership with Intel Corp (NASDAQ: INTC). However, the session on Thursday, June 25, disrupted the plans significantly, as the stock experienced its biggest one-day decline in over a year.
The trigger was a long-flagged but still painful announcement of price increases across the company's MacBook and iPad ranges, in some cases by up to $300 per product. CEO Tim Cook had been telegraphing this move for some time, having previously described the cost pressure from surging memory chip prices as "unsustainable."
