Apple News 3 Days

Last updated: May 16, 2026, 5:35 PM ET

Apple Business & Markets

Apple shares closed above $300 for the first time in the company's history, reaching a new record high as investors rewarded stronger-than-expected earnings, surging Services revenue, and a massive $100 billion buyback program despite ongoing AI concerns. Analysts at Evercore raised their price target to $365, citing Apple Intelligence as a long-term growth catalyst that will drive the company's next major upgrade cycle.

Hardware Pipeline

Apple is preparing to launch more than 15 new products this fall, including the first MacBook Pro redesign since 2021 with OLED displays and rumored touchscreen functionality. The company has also slashed iPhone 17 Pro prices in China by 1,000 yuan (approximately $138) ahead of the annual 618 shopping festival, one of the country's largest mid-year retail events. Meanwhile, the iPhone 17 Pro has been named the fastest-charging smartphone in CNET testing, while the upcoming iPhone 18 Pro is rumored to feature three major new upgrade drivers including a transition to Apple-designed modems that will bring privacy benefits by ending reliance on Qualcomm chips.

Software Updates

Apple released iOS. this week with new features, though notably without improved Apple Intelligence functionality — a relief for Google ahead of its Gemini announcements. The update includes a new Suggested Places feature in Apple Maps that signals ads are coming soon to the mapping service. Safari 26.5 patched WebKit vulnerabilities that could have allowed malicious websites to expose sensitive user data, while mac OS 26.5 brought enterprise fixes for managed Macs. Car Play received five new customization options in iOS along with six popular third-party apps including Chat GPT, Perplexity, and WhatsApp.

Legal Battles

Ahead of the next court hearing in their ongoing dispute, Apple and Epic Games agreed on a pre-court schedule to discuss changes to App Store fee proposals. 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. Meanwhile, OpenAI is considering legal action against Apple after Chat GPT integrations failed to generate the paid user signups that CEO Sam Altman expected.

Services & Entertainment

Apple TV continues its content momentum with the renewal of "Margo's Got Money Troubles" for a second season ahead of next week's finale, building on what the company calls its best summer lineup ever. The service also has a Ryan Reynolds spy thriller with a comedy twist arriving later this year. Apple Cash experienced an outage affecting some U.S. iPhone users this week before being resolved, while the company is preparing a new Apple Card signup promotion that would effectively give new customers free AirPods Pro 3 — a sharp shift in strategy for the credit card program.

Supply Chain & Manufacturing

TSMC announced an additional $20 billion investment in its Arizona manufacturing facilities, bolstering Apple's efforts to reshore more chip production to the United States. The investment comes as supply chain analyst Ming-Chi Kuo reported that Intel is testing production of some iPhone, iPad, and Mac chips, potentially ending TSMC's decade-long exclusive supply relationship with Apple.

Leadership & Travel

CEO Tim Cook returned to China accompanying President Trump on a visit to Beijing to meet with Chinese President Xi Jinping, joined by executives from Tesla, Boeing, and other American companies. The trip comes amid ongoing trade tensions and Apple's strategic importance in the Chinese market.

Accessories & Deals

Amazon's Memorial Day sale featured the 20-core 2TB M5 Pro MacBook Pro at an all-time low price, while 2026 16-inch MacBook Pro models received discounts of up to $249. The recently released MacBook Neo earned strong reviews two months after launch, with testers calling it "almost a MacBook Pro beater" and the Apple laptop that most consumers should buy. Air Pods Max development involved hundreds of variations over five years according to a former Apple designer, revealing the extensive iteration process behind the premium headphones.

Security & Privacy

Hackers were discovered using fake Apple-themed infrastructure to hide malware targeting organizations across the Asia-Pacific region for months without triggering security alerts. Meanwhile, new research shows iPhone thieves can earn up to $800 more by stealing unlocked devices compared to locked ones, highlighting the importance of biometric security. OpenAI also forced ChatGPT Mac users onto an update deadline after a supply chain attack exposed signing certificates.

Smart Home

Switch Bot announced new Lock Vision and Lock Vision Pro smart locks with Matter-over-Wi-Fi support for Apple Home users, eliminating the need for separate hubs. Apple's Home Kit ecosystem continues expanding with pet-focused solutions including automated feeders, litter boxes, and sensors that integrate with the Home app, while Siri and Apple Home can now control Matic robot vacuums.