Apple stock fell on Thursday after the tech giant jacked up prices on its MacBooks and iPads, increasing worries that its comeback year could be screeching to a halt.

Shares dropped 5.2% to $277.89, on pace for their largest percentage decrease since April 4, 2025, according to Dow Jones Market Data. The stock was also the worst performer in the Dow Jones Industrial Average.

The prices changes, all at least $100, are laid out on Apple's website. The MacBook Air costs $200 more, $1,299, and the higher-end MacBook Pro is up to $1,999, a $300 jump.

Even the MacBook Neo, which was introduced this year as Apple's lowest priced laptop ever, has a new price tag of $699, a $100 increase. The prices for the iPad Pro and iPad Air also rose by $200 and $150 -- to $1,199 and $749, respectively.

Apple didn't immediately respond to a request for comment.

One analyst who likes the stock had pointed out the risk of the new prices.

"While the price increases should help protect gross margins, intra-cycle hikes are very unusual for Apple and raise the risk of some demand friction across Macs and iPads," wrote Evercore ISI analyst Amit Daryanani, who rates the stock Outperform and has a $365 price target.

Memory is a critical component used to help power AI, and costs have soared as demand far outpaces supply. This has greatly benefited memory makers like Micron Technology, which was surging 10% after reporting knockout financial results Wednesday night. Tech hardware companies have been raising prices to offset the risks these rising costs have on margins.

Apple held off on raising prices for as long as possible. The company had been using its strong relationship with suppliers to negotiate costs and keep prices stable. That strategy had been successful -- second-quarter iPhone and Mac sales came in better than analyst estimates as demand remained steady. Data this spring showed that demand from China got a boost after competitors raised their prices.

But CEO Tim Cook said last week that "unfortunately, price increases are unavoidable."

Notably, Apple didn't increase iPhone prices. Daryanani believes this will help protect iPhone demand for now and keep overall sales in tact, but it's also likely that the next generation of iPhones announced in September will be more expensive.

Strong demand for Apple's products and solid earnings have pushed the stock to new highs this year. The narrative has quickly shifted, though. Apple stock has now fallen 10% in June and is on pace for its worst month since December 2022. For the year, its gain is 2%; the 26; S&P 500 is up 7.6%.

Wall Street sentiment started to change after the company hosted its Worldwide Developers Conference earlier this month. Despite finally showing artificial intelligence updates, including a highly anticipated AI powered Siri chatbot, investors left the conference wanting more. The stock dropped after Cook's keynote speech ended.

Write to Angela Palumbo at angela.palumbo@dowjones.com

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June 25, 2026 12:36 ET (16:36 GMT)

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