Wall Street spent the week wrestling with AI costs, weakening smartphone demand and uneven performance across major tech names. Apple CEO John Ternus defended the company’s AI strategy and Elon Musk poked fun at a pricey Mac Studio.
Here are five stories that shaped the week. Apple’s AI Strategy Faces Scrutiny Apple Inc.
(NASDAQ:AAPL) CEO John Ternus defended the company’s approach to AI after criticism that it had fallen behind rivals. "I really like where we’re at," he said.
Read the full article here. Apple And Samsung Avoid The Worst Of The Chip Downturn Counterpoint Research said global smartphone SoC shipments fell 21% year over year in the third quarter of 2026, with midrange and entry-level devices hit hardest.
Rising memory costs and longer replacement cycles are the pressures, but Apple remained better positioned than several chip suppliers. Read the full article here.
Elon Musk Pokes Fun At Apple’s Premium Mac Studio Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk mocked Apple after a fully configured Mac Studio appeared on its website at $29,799.
" he wrote on X, replying to a screenshot posted by Austin Allred. Read the full article here.
12, the first negative reading in data going back to the early 1980s, according to The Kobeissi Letter. 2% over the period.
Read the full article here. AI’s Trade Suffers Another Difficult Week The AI trade weakened for a third straight week, with pressure shifting from valuations to the balance sheets financing the buildout.
Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) had its worst week since 2011, while Intel Corp.
(NASDAQ:INTC) suffered a record decline. Read the full article here.
