Apple Rebounds from Selloff, Services Business Shields Against Hardware Headwinds

Apple's stock price surged by +3.14% on June 29 to $283.78, rebounding from its recent selloff following the announcement of higher Mac and iPad pricing due to global memory chip shortages.

The company faced a four-pronged concern: rising memory prices (DRAM +58-63% sequentially, NAND +70-75% sequentially), an unconfirmed Apple-Intel deal, a class-action lawsuit in the UK over iCloud pricing, and significant insider selling. However, only the memory cost increase will have a direct impact on Apple's business this quarter.

Apple raised MacBook Air pricing by $200, MacBook Pro 14-inch by $300, and iPad Air by $150, while leaving iPhone pricing untouched. Analysts like JPMorgan expect Apple to pass on some of these costs to the consumer with the new iPhone 18 models in September 2026, attempting to maintain price elasticity.

Apple's Services business stands out as a structural buffer against hardware headwinds, generating $31B in Q2 FY2026 revenue, +16% year-over-year, with nearly 49% operating margins. This recurring revenue stream grows independently of device sales and provides a steady source of income for Apple.