Apple Inc. shares suffered their steepest decline in more than a year on Thursday, as investors digested the company's decision to raise prices on its MacBook and iPad product lines.
The consumer electronics giant fell more than 6% in the session, weighing heavily on the Nasdaq and evaporating Wall Street's brief respite from recent volatility.
The stock closed 6.15% lower at $275.15, having touched an intraday low of $273.75.
This marks the biggest intraday drop since April 10, 2025, signaling a sharp repricing of the stock amid concerns over margin pressure and demand elasticity.
The sell-off was triggered by Apple's announcement that it is increasing prices for all Macs, iPads, home devices, and the Vision Pro.
The company attributed the price hikes to an increase in the cost of memory chips, a key component in its hardware lineup.