Apple Closes at $294.38 as Five New iPhones Test Memory-Driven Valuation

Apple closed at $294.38 on July 1, rebounding 1.73% while the broader market slipped, after a nearly 10% pullback from its June peak of $317.40. The stock has been pressured by surging DRAM and NAND costs that prompted price hikes on select iPads and MacBooks, prompting Apple to lobby the Trump administration for approval to source chips from blacklisted Chinese supplier CXMT. Analysts remain divided as the company prepares at least five new iPhone models through early 2027, including a foldable with production targeted at 10 million units, testing whether resilient iPhone demand and Services growth can offset ongoing margin pressure.