🚀 Apple shares fall

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Market Overview
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Year To Date Performances:

1. Apple investors had their most bruising day of the year on Thursday as a "triple threat" of bad news sent shares tumbling 5.00% to close at $261.73. The sell-off, which vaporized over $200 billion in shareholder value, was ignited by reports that the highly anticipated "Siri 2.0" overhaul had been delayed again due to technical inconsistencies. While Apple maintains it is still on track for a 2026 release, internal leaks suggest that the March rollout for iOS 26.4 has been pushed back to May or even September. This delay is particularly stinging for the "Magnificent Seven" heavyweight, as it underscores the mounting tension between massive AI infrastructure spending and the slow delivery of consumer-ready products. Adding to the downward pressure, Federal Trade Commission Chair Andrew Ferguson delivered a pointed warning to CEO Tim Cook regarding alleged political bias within the Apple News ecosystem

2. Rivian investors finally found the "on-ramp" they were looking for as the company’s stock soared 15% in after-hours trading following a surprise fourth-quarter earnings beat. While the broader EV market has been stuck in low gear, Rivian delivered a double beat on both the top and bottom lines, reporting an adjusted loss of 54 cents per share, significantly narrower than the 68 cents analysts had feared. Most notably, the company achieved its first-ever annual gross profit of $144 million for 2025. Although its automotive business is still technically "in the red," this milestone was made possible by the massive $5.8 billion software and services joint venture with Volkswagen, which contributed $447 million in high-margin revenue in the final quarter alone.

3. The anxiety that gripped New York on Thursday has officially crossed the Pacific. As Asian markets opened on Friday, investors were forced to process a brutal "AI Scare Trade" that hit the S&P 500 for a third straight day. While the tech boom of 2024 and 2025 focused on the potential of AI, the 2026 narrative has shifted toward the displacement of legacy business models. Markets in Sydney and Tokyo are currently absorbing the shockwaves from a massive rotation out of industries like logistics, commercial real estate, and traditional networking hardware.

   Headlines

   1. Cisco's stock had its worst day since 2022 yesterday.

   2. Pinterest's revenue came in below expectations due to tariff-related headwinds.