Stock Market Daily · 2026-06-26

Dow Hits Record as Tech Rout Deepens on Apple Price Hike, Inflation Fears

The Dow Jones Industrial Average reached a new intraday record above 52,650 on Thursday, while the Nasdaq fell for a fourth straight day as Apple dropped 6% after hiking prices on Macs and iPads due to soaring memory costs. Micron surged 15% on blowout earnings, but hot PCE inflation at 4.1% fueled rate-hike bets and deepened the rotation out of megacap tech.

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Dow hits record high as tech sell-off deepens The Dow Jones Industrial Average rose 0.17% to a new intraday record near 52,650, while the Nasdaq fell 0.5% as Apple, Nvidia, and Microsoft dragged. Money rotated into healthcare, financials, and industrials. 1 2 3 4 5 6 7 8

Apple shares plunge 6% after price hikes on Macs and iPads Apple raised prices 15-20% on MacBooks and iPads, citing unprecedented memory chip cost increases from AI data center demand. The iPhone was spared, but shares fell 6.1%, the biggest drag on the S&P 500. 9 10 11 12

Micron surges 15% on earnings beat amid AI memory boom Micron reported Q3 revenue of $41.5 billion and EPS of $25.11, well above estimates, and guided Q4 revenue to $50 billion. Shares jumped 15.7% as AI demand for high-bandwidth memory drives record profits. 1 3 7 12

PCE inflation hits 4.1%, highest in three years, stoking rate hike fears The Fed's preferred inflation gauge rose to 4.1% year-over-year in May, the highest since April 2023. Core PCE hit 3.4%. Traders now price in at least one 25-basis-point rate hike by year-end. 1 6 13 14 15

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