Apple Shares Slip as FTC Scrutiny and Siri Delays Spotlight Regulatory Pressure

Apple’s stock dropped 5% on Thursday, marking its steepest daily retreat since April 2025. The downturn was attributed to regulatory pressure around Apple News and reports of delays to the Siri AI update, effectively wiping out the year’s earnings so far.

FTC Targets Apple News
On Wednesday, FTC chair Andrew Ferguson sent a letter to Apple chief Tim Cook calling for a formal review of how Apple News curates its content. Ferguson pointed to accusations that the platform systematically favors left-leaning outlets while marginalizing conservative voices. He cited a January study from the conservative watchdog Media Research Center, which analyzed the prominence of morning stories on Apple News. Apple declined to comment.

Ferguson acknowledged that the FTC lacks the authority to compel ideological steering, but he signaled possible Section 5 violations if the curatorial approach misaligns with user expectations and isn’t disclosed transparently.

Siri Update Delayed
Bloomberg reported on Wednesday that the highly anticipated Siri AI upgrade has been internally postponed to May or later, moving away from an earlier plan to roll out the update in the coming weeks. Apple could release the new features gradually over several months.

In a separate statement to CNBC, Apple indicated that improvements are slated for 2026, without providing a concrete timetable.

Trading Action and Key Figures
The shares opened at $275.59, touched a session low of $260.18, and closed at $261.73. Volume reached about 77.3 million shares, well above the 10-day average of 62.29 million.

Key data at a glance:
- Closing price (Feb 12): $261.73
- Daily change: -$13.77 (-5.0%)
- Market capitalization: $3.85 trillion
- 52-week range: $169.21 – $288.62

December 52-week high: $288.62. The 2026 year-to-date performance now sits at -4%.

Industry Mood and Outlook
Apple’s weakness fits a broader downturn for tech equities. UBS lowered its stance on the U.S. technology sector to neutral, citing ongoing software uncertainties and heavyweight investments in AI infrastructure.

Wall Street also cooled, with the Dow Jones Industrial Average sliding about 600 points on February 11 and the S&P 500 retreating for the third straight session as anxiety about the profitability of AI initiatives weighed on sentiment.

Looking ahead, Apple will report its next quarterly results on April 29. The most recent quarterly dividend of $0.26 per share went ex-dividend on February 9.

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