Apple is back below where its May breakout began. The stock has fallen into the upper end of its old range, putting the $275 to $280 area back in focus. That zone is now the line between a bruising one-day price shock and a failed multi-week breakout. <\/p>\n
The trigger was simple. Apple raised prices<\/a> on some MacBooks and iPads amid the global memory crisis, with increases running from $100 to $300 on some devices. While the move was somewhat expected, the size of the price increases was not. iPhone prices were left unchanged for now. <\/p>\n Micron just showed why that cost pressure is not going away quietly. <\/p>\n Micron topped Wall Street’s estimates<\/a>, posted record revenue, and delivered a record gross margin of 84.9%. The company expects that figure to rise<\/a> to about 86% this quarter. <\/p>\n For a memory business known for violent boom-and-bust swings, those margins say customers are still paying up. While that’s great for Micron, it’s harder for companies buying the chips. <\/p>\n Micron has added more than $100 billion in market value Thursday even after giving back part of its early surge. Apple has erased nearly $200 billion. <\/p>\n That tension lands in a rough tape for the biggest tech stocks. The Magnificent Seven are down about 2%, sliding to a two-month low after a month in which megacap AI winners had already lost trillions in market value<\/a>. <\/p>\n Micron’s earnings didn’t create Apple’s problem. They made it harder to ignore. Apple’s price hikes show that the cost side of the AI build-out is starting to move from spreadsheets into product pages. <\/p>\n For investors, the next test is Apple’s $275 to $280 zone. <\/p>\n A close above it would make Thursday look like a successful test of old price supply. A close below $275 would turn the May breakout into a bull trap<\/a> and force investors to reassess how much of the AI hardware bill megacaps can keep absorbing. <\/p>\n Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared<\/a> or email him at jaredblikre@yahooinc.com. <\/p>\n<\/a> US megacap stocks heat map \u2014 June 25, 2026 \u00b7 Yahoo Finance <\/p>\n