Apple shares fell after price increases, while Micron rose on strong AI-related earnings.
The Nasdaq logo is displayed on a screen at the Nasdaq Market site in Times Square in New York City, US, Apr 17, 2026. (Photo: REUTERS/Brendan McDermid)
26 Jun 2026 05:28AM
NEW YORK: The Nasdaq fell for the fourth straight session Thursday (Jun 25) behind weakness in Apple and other tech giants while oil prices pushed higher after a cargo ship was attacked in the Strait of Hormuz. The cargo ship was damaged by an unknown projectile off the Omani coast in the strategic strait on Thursday, prompting the International Maritime Organisation to halt an evacuation of crews trapped by the US-Iran war.Oil prices - which have been in retreat following the US-Iran announcement of a peace deal - rose more than two per cent.Wall Street indices finished mixed following a choppy session.US stocks had opened higher following blowout results from chip company Micron, but later hit a speedbump after Apple announced price hikes of laptop, tablets and other products, citing spiralling memory and storage costs sparked by the rise of artificial intelligence. Shares of Apple slid 6.2 per cent. Both Amazon and Microsoft also fell after EU antitrust commissioner Teresa Ribera said the tech giants should face tougher digital competition rules in Europe because of their dominant position in cloud computing. Other tech companies in the so-called "Magnificent Seven" also fell, but by smaller percentages.Micron soared 15.8 per cent after it reported profits of US$28.2 billion on revenues of US$41.5 billion, staggering figures that underscored robust demand for artificial intelligence infrastructure.
