Apple Accelerates US Manufacturing Pivot as Shareholders Back Leadership Amid 5% Stock Surge

Apple Inc. (NASDAQ:AAPL) shares rocketed 5.1% higher on February 24, 2026, closing at $274.44 and nearing the 52-week high of $288.62, as the company's annual shareholder meeting underscored a decisive strategic pivot toward expanding its US manufacturing footprint.[3][2] This move comes against a backdrop of robust fiscal performance, with trailing twelve-month revenue reaching $435.6 billion and 10% year-over-year growth, sustaining Apple's position as a $4 trillion market capitalization behemoth.[2]

Shareholder Meeting Highlights Strategic Confidence

At the virtual 2026 Annual Meeting of Shareholders on February 24, led by CEO Tim Cook and General Counsel Kate Adams, investors preliminarily approved executive compensation packages and unanimously elected all nominated directors, including Wanda Austin, Tim Cook, Alex Gorsky, Andrea Jung, Art Levinson, Monica Lozano, Ron Sugar, and Sue Wagner.[1][2] Each director garnered over 8.2 billion votes in favor, with Wanda Austin receiving the highest at 9,077,916,399 votes, signaling strong governance alignment.[2]

Significantly, shareholders rejected an external proposal for a detailed audit of Apple's manufacturing 'entanglements' in China, a decision that aligns with the company's broader reshoring efforts.[1][2] This vote reflects investor confidence in Apple's ability to balance global supply chains while methodically shifting capacity stateside, particularly as geopolitical tensions and tariff considerations evolve.

US Manufacturing Expansion Takes Center Stage

The pivot gained concrete momentum with reports of Apple shifting Mac Mini assembly to the United States, marking a key step in diversifying away from overseas dependencies.[6] This initiative builds on recent legal tailwinds: on February 23, the US Supreme Court overturned parts of prior tariff policies, from which Apple had paid approximately $3.3 billion since 2025—a cost it is now positioned to mitigate.[1]

Operationally, this reshoring strategy addresses rising input costs, including memory chip prices for DRAM and NAND, projected to pressure hardware margins throughout 2026.[1] By expanding domestic production, Apple aims to enhance supply chain resilience, reduce tariff exposures, and potentially qualify for US incentives under ongoing industrial policy frameworks.

Product Roadmap Fuels Optimism

Market anticipation is building around Apple's early 2026 hardware refresh, including updated MacBook and iPad models, with a major event slated for March 4 featuring the iPhone 17e—a lower-priced entry-level model starting at $599—and potentially colorful, budget-friendly MacBooks.[4][1] Since the iPhone 17 announcement on September 9, 2025, AAPL stock has climbed 13%, outpacing the Nasdaq-100's 4.9% gain in the same period.[4]

January's quarterly results underscored this momentum: iPhone net sales surged 23% year-over-year, driving 16% revenue growth to double-digit diluted EPS gains of 19%.[4] Greater China contributed $25.5 billion—or 18% of total net sales—with a 38% year-over-year increase, highlighting emerging markets as a growth engine where lower-cost products could capture share.[4]

Analysts remain bullish. Bernstein SocGen raised its price target to $340 from $325, citing a robust iPhone 17 cycle and projected fiscal Q2 gross margins of 48.5%.[2] Evercore ISI reiterated Outperform at $330, despite Apple Intelligence 2.0 delays, while noting accelerated AI wearables development like smart glasses and enhanced AirPods.[2]

Stock Performance and Valuation Context

AAPL's surge to €231.10 (equivalent to $272.14 USD) on February 24 placed it above the 50-day moving average of €225.47, with shares up 17.2% over the trailing six months versus the Zacks Computer & Technology sector's 10.6%.[1][5] The stock trades at a forward 12-month P/E of 30.37X, above the sector's 25.5X, reflecting premium valuation but backed by Zacks Consensus fiscal 2026 EPS estimates of $8.41—up 12.7% year-over-year and 3% over the past 30 days.[5]

Apple carries a Zacks Rank #3 (Hold) and Value Score of F, suggesting selectivity amid overvaluation concerns per InvestingPro analysis.[2][5] Yet, services growth—driven by strong content and gaming—continues to bolster resilience, with the segment riding tailwinds from ecosystem lock-in.

Strategic Implications for Investors

This confluence of events positions Apple advantageously entering 2026. The US manufacturing shift not only derisks supply chains but could improve margins as tariff relief materializes and domestic efficiencies scale. Shareholder endorsement of leadership reinforces stability, while the product pipeline—spanning affordable hardware to AI innovations—targets both price-sensitive and premium segments.

China remains pivotal, with recent 38% sales growth signaling demand resilience despite audit rebuff.[4] However, diversification mitigates risks from memory cost inflation and software delays, such as Siri AI upgrades pushed to later 2026.[1]

For investors, AAPL's year-to-date dip of 2.8% presents a potential entry, especially pre-March 4 launch.[4] Analyst upgrades and technical strength above key averages suggest upside, though elevated multiples warrant monitoring earnings delivery. The $4 trillion mega-cap's blend of innovation, execution, and policy alignment underpins a constructive outlook, with US reshoring as a differentiating catalyst in Big Tech.

Risks and Forward Outlook

Challenges persist: AI delays could temper enthusiasm if hardware refreshes underperform, while chip price hikes loom as margin headwinds.[1][2] Geopolitical flux in China warrants vigilance, even as sales boom.

Nevertheless, Apple's trajectory—bolstered by fiscal strength, product cadence, and strategic pivots—points to sustained leadership. As Q2 guidance anticipates margin expansion and iPhone cycles extend, patient allocators may find reward in this dip-buy opportunity ahead of hardware catalysts.

Institutional interest remains evident, with price targets clustering near $330-$340 implying 20-24% upside from current levels. This week's developments affirm Apple's resilience, positioning it to navigate 2026's complexities with characteristic poise.