Apple Raises MacBook and iPad Prices, Sparks 4% Seoul Tech Sell-Off
AAPL•Apple announced price hikes for MacBooks, iPads and other hardware citing rising material and transport costs. The move dragged Magnificent Seven stocks lower, reversing early Nasdaq and S&P 500 gains and coinciding with a 4% slide in Seoul’s Kospi and a 3% drop in Tokyo’s index.
1. Apple Announces Hardware Price Increases
Apple raised prices on its MacBook laptops, iPad tablets and other hardware products, attributing the increases to elevated material and shipping costs. These adjustments mark one of the most significant pass-throughs of rising input expenses the company has implemented this year.
2. Tech Shares Retreat After Hike
The announcement prompted Apple shares to fall, pulling down other Magnificent Seven stocks and reversing early gains on the Nasdaq and S&P 500 that had been driven by strong chip sector results. Investors cited concerns that higher consumer prices could weigh on demand growth.
3. Asian Markets Suffer Sharp Sell-Off
In Asia, Seoul’s Kospi plunged over 4%, with chip giants SK hynix and Samsung each down about 5%. Tokyo’s tech-heavy index shed more than 3%, while major markets in Hong Kong, Shanghai and Singapore also recorded steep losses.
