Apple Inc. (NASDAQ:AAPL) stock tumbled more than 6% on Thursday, marking its biggest one-day decline since April 2025, after the company raised Mac and iPad prices. Investors viewed the move as a key test of Apple’s pricing power ahead of any potential iPhone price increases.
The iPhone accounts for nearly half of Apple’s business. At the same time, Macs and iPads together represent about 14% of revenue, making the smaller categories a lower-risk place to test customer response, CNBC reported on Friday.
Apple linked the increases to higher memory and storage costs driven by demand for AI data centers.
Reportedly, investors are watching whether Tim Cook raises iPhone prices before John Ternus takes over as CEO on Sept. 1, which could give the next leader a higher baseline price and less margin pressure.
Apple can either pass costs to customers, absorb the margin hit, or diversify its supply chain, according to the report.
