Apple Inc Drops 2% Intraday to $267 on CEO Shift, Closes $273 as S&P Pauses

Apple Inc closed at $273.05 after a ~2.2% intraday plunge to around $267 amid ongoing reaction to Tim Cook's transition to chairman and John Ternus's CEO appointment effective Sept. 1. The April 20 announcement sparked initial 0.7-1% dips, with markets swinging from negative (S&P -0.2%, Nasdaq -0.3%) to positive closes (Dow +0.8%, S&P +0.3%) on 1.7% March retail sales beat and oil easing below $90. April 21 saw S&P 500 and Nasdaq down 0.4-0.5% as Apple's ~7% weighting weighed heavy, offset by JPMorgan's S&P target hike to 7,600 and Amazon's $5B Anthropic boost.