Apple News 24 Hours

Last updated: May 16, 2026, 8:39 AM ET

Market & Business

Apple shares closed above $300 for the first time, reaching a new record high as investors rewarded the company's stronger-than-expected earnings, surging Services revenue, and its massive $100 billion buyback program despite ongoing AI concerns. In a separate legal development, Apple's Senior Vice President of Software Engineering Craig Federighi has been added as a document custodian in xAI's antitrust lawsuit against Apple and OpenAI, though CEO Tim Cook was spared from the same requirement. Meanwhile, Apple is slashing iPhone 17 Pro prices in China by 1,000 yuan (approximately $138) ahead of the country's massive 618 shopping festival, a key mid-year retail event where domestic competition remains fierce.

Product Pipeline

Apple is preparing to launch more than 15 new products this fall, according to supply chain reports, while the rumored iPhone Ultra continues to dominate upgrade speculation with a strong consensus emerging on expected features. The iPhone 17 Pro has already claimed a notable distinction, being named the fastest-charging smartphone overall in CNET lab testing — a significant selling point as battery life becomes increasingly competitive. On the services front, Apple is reportedly planning a major Apple Card signup push that would effectively give new customers free AirPods Pro 3, representing a sharp shift in the company's bundling strategy.

Services & Streaming

Apple TV is riding a hot streak with new shows and is preparing what the company calls its best summer lineup ever, including a Ryan Reynolds spy thriller with a comedy twist coming later this year. The streaming service is also benefiting from expanded gaming content, with Age of Empires II: Definitive Edition arriving on Mac this month as Apple continues its push to expand gaming on the platform.

Software & AI

Google's Gemini Intelligence announcement aimed to steal Siri's thunder just one month before Apple Intelligence's major WWDC moment, though early assessments suggest it falls short of delivering a compelling challenge. Meanwhile, iOS 26.5 arrived without improved Apple Intelligence features, which observers noted must have been a relief to Google. Apple's treatment of AI coding apps appears to be shifting with Replit's latest update, the developer's first iPhone app release in four months after resolving an App Store review dispute over how AI-generated apps can be previewed and developed on iOS. In the automotive space, Car Play in iOS 26 adds five new ways to customize your in-car setup, significantly expanding customization options.

Hardware & Accessories

A former Apple designer revealed that Air Pods Max development involved hundreds of variations over five years, shedding light on the reasoning behind skipping active noise cancellation on the headphone band. For audio enthusiasts, a new magnetic headphone amplifier and DAC attaches to the back of iPhone via Mag Safe, bringing high-fidelity wired audio to mobile users. In the Mac ecosystem, iVANKY's Fusion Dock Ultra offers 26 Thunderbolt 5 ports for professionals needing extensive connectivity, while Mactracker — the comprehensive Apple hardware database app — celebrated its 25th anniversary with a major update to its iPhone and iPad versions.

Deals & Ecosystem

Amazon's Memorial Day sale is offering the 2026 16-inch MacBook Pro at $249 off across all models, while 14-inch M5 Pro configurations with 2TB of storage hit an all-time low. Additional deals include Air Pods Max 2 for $40 off, the 2026 MacBook Pro for up to $216 off, and Apple Watch Series 11 for up to $130 off. In home automation, Switch Bot's new Lock Vision brings facial recognition and Matter over Wi-Fi support to Apple Home users, requiring no additional hubs. Meanwhile, Lepro introduced an affordable reactive backlighting kit for Apple TV setups, offering a budget alternative to premium ambient lighting solutions.

Chip Manufacturing

TSMC is investing an additional $20 billion in its Arizona plants, accelerating Apple's efforts to reshore more chip production to the United States as the company seeks greater supply chain control.