Observed Signal · Feb 12, 2026 · Policy Update · Source: CNBC Technology · Impact: 4/5 · Sentiment: Negative
Apple Shares Plunge Amid FTC Scrutiny and Siri Delays
Apple shares plunged about 5% on Thursday — the company's worst daily drop since April — after reports that a major Siri AI update was internally pushed back and as the Federal Trade Commission questioned Apple News’s curation policies. Bloomberg reported the Siri update was delayed to May and may be rolled out gradually over months; Apple told CNBC it remains on track to launch the features in 2026. FTC Chair Andrew Ferguson asked Apple CEO Tim Cook to review Apple News terms of service and curation amid reports of political bias. The stock decline erased Apple’s year-to-date gains and comes amid broader Wall Street concerns about heavy AI spending; UBS recently downgraded the U.S. tech sector to neutral.
Major platform (Apple) faces regulatory scrutiny over its news curation while delaying a high-profile AI product (Siri update); both developments can affect publisher distribution, platform product timelines, advertiser planning and investor confidence across the ad/tech ecosystem.
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Key Takeaways & Evidence Grounding
- Apple stock dropped 5% on Thursday, wiping out its gain for the year and leaving it down almost 4% in 2026.
- Bloomberg reported Apple has internally pushed back a major Siri AI update to May and may roll features out slowly over several months.
- Apple told CNBC it is still on track to launch the Siri update in 2026.
- Federal Trade Commission Chair Andrew Ferguson told Apple CEO Tim Cook to review Apple News’s terms of service and curation policies, citing reports of political bias.
- UBS downgraded the U.S. tech sector to neutral, citing software uncertainty and heavy capital expenditures.
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Apple Shares Drop After Siri AI Reveal
Apple shares fell after WWDC announcements around Apple Intelligence and a new Siri AI, a move several outlets called a “sell the news” reaction. Analysts praised technical improvements but said the reveal lacked major surprises and provided no firm consumer release date; Apple said its approach uses cloud models with support from Google and Nvidia. Jim Cramer told CNBC Investing Club he remains confident in Apple long term but is not buying the dip, calling AAPL an “own‑don’t‑trade stock.” Cramer highlighted Apple’s ecosystem (more than 2.5 billion active devices) and argued smarter Siri and Apple Intelligence could drive device upgrades and higher‑margin services revenue. Morgan Stanley raised its price target to $360 from $330 and estimated over 850 million iPhones in use cannot run basic Apple Intelligence features, creating an upgrade opportunity. Overall, the pullback reflects elevated investor expectations rather than a change to Apple’s fundamentals.
Apple earnings split Wall Street amid supply, AI headwinds
Apple reported fiscal third-quarter revenue of $109.42 billion, slightly above LSEG-polled estimates of $108.65 billion, with iPhone, Mac and wearables outperforming while iPad and Services revenue missed expectations. The stock fell roughly 8% after Apple gave weaker-than-expected guidance for the current quarter, forecasting revenue growth of 9–11% versus LSEG expectations of 12%. CFO Kevan Parekh cited parts supply constraints that could particularly affect iPhone revenue, and several banks and research firms flagged high memory costs, supply-chain prioritization for AI, and decelerating Services as near-term headwinds. Analysts were divided: some trimmed price targets and downgraded near-term outlooks while others highlighted Apple's strong free cash flow, upcoming iPhone and Siri AI catalysts, and potential for Services recovery. Major broker notes from UBS, Barclays, JPMorgan, Goldman Sachs, Morgan Stanley, Citi, Bank of America, Evercore ISI, Baird, Wells Fargo and Melius Research were summarized.
Amazon surges 14% as Apple falls 9% after earnings
Shares of Amazon jumped 14% while Apple fell about 9% after investors reacted to the companies' June-quarter earnings. Amazon reported 37% year-on-year revenue growth at its cloud business (AWS) and raised its 2026 capital expenditure forecast to $220 billion from $200 billion as it continues investing in AI infrastructure. Apple beat estimates on earnings, revenue and iPhone sales but issued weaker-than-expected guidance for the current quarter, citing supply constraints driven by memory shortages and chip capacity issues. Market reactions among Big Tech diverged broadly during the earnings season, with Meta down and Microsoft up on differing investor views of AI strategies.
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