Tech stocks today: Apple stock slips as Tim Cook prepares to step down

LIVE Tech stocks today: Apple stock slips as Tim Cook prepares to step down Yahoo Finance Mon, August 31, 2026 at 4:56 PM GMT+2 1 min read AAPL NVDA Tech stocks were volatile on Monday as strengthening AI optimism from bullish Nvidia ( NVDA ) earnings last week clashed with increased odds of a Fed interest rate hike in September. It’s a momentous day for one company in particular — Apple ( AAPL ). Longtime CEO Tim Cook steps down on Sept.

1 and will hand the reins to senior vice president of hardware engineering John Ternus . Cook was seen as a savvy operator, navigating the company through tariffs, supply chain snarls, and the launch of new products such as the Apple Watch and AirPods. He also quadrupled Apple’s yearly revenue.

Elsewhere in tech, it was a mixed bag. Semiconductor stocks edged higher on the whole, while software stocks wavered, coming off a big week of decisively strong earnings. Several of the “Magnificent Seven” hyperscaler stocks, however, dropped as concerns about higher borrowing costs and capital expenditures weighed on shares.

LIVE 4 updates 53 mins ago Grace O'Donnell 'Let Data Reign': Trump champions data center build-out amid growing backlash President Trump threw his support behind the data center build-out on Monday, framing the rapid expansion of artificial intelligence as a matter of economic and national security. “The only reason that communities throughout the U. S.

A. should not want Data Centers is if they want to end up being backwards and poor,” Trump said in a social media post. “If they want to be successful and rich, with far lower taxes and jobs all over the place, let Data Reign.

” Trump called the US’s artificial intelligence lead “the Golden Goose” that every country wants. “China could not be happier with this anti Data Center movement,” Trump added. Trump seemed to appeal directly to the communities that could block Big Tech’s ambitions, as a swiftly growing backlash against building data centers has taken hold in the US and states have begun issuing moratoriums to slow new construction.

That has led some strategists to note that the biggest bottleneck in the AI build-out may not be securing enough high-powered chips or energy to run the data centers. It could be the public’s permission. In the lead-up to the midterm elections, the politics of data centers has grown thornier as supporters point to AI as the next engine of economic growth, while critics raise concerns about rising energy bills and a general mistrust of Silicon Valley.

Today at 3:27 PM UTC Jake Conley Nvidia will invest $3. 5 billion in Taiwanese chipmaker MediaTek, companies say Monday Nvidia ( NVDA ) has agreed to invest $3. 5 billion in Taiwanese chipmaker MediaTek, per a statement Monday morning, deepening Nvidia's already large web of investments throughout the AI ecosystem.

"NVIDIA and MediaTek today announced a deepening of their longstanding collaboration to build the next generations of AI computing platforms — spanning AI infrastructure, local AI computing and automotive," the companies said in a joint statement, noting the combination will combine Nvidia's computing platforms with MediaTek's chip design capabilities. Shares in Nvidia trended up by roughly 1% on Monday morning. The deal is set to broaden an existing partnership between the two AI companies.

Under this round of investment, MediaTek will use Nvidia's NVLink Fusion technology, among other applications, which functions as connective tissue that allows customers to plug their own chips into Nvidia's underlying data center architecture. NVLink Fusion will allow MediaTek to "provide hyperscalers, cloud service providers and frontier model developers with a prevalidated path to develop custom XPUs and bring them into NVIDIA NVLink™-connected, rack-scale AI factories," the companies said in their statement. The investment from Nvidia — adding to billions of dollars Jensen Huang's company has invested in companies throughout the AI ecosystem — comes as Nvidia increasingly focuses on positioning its technology as the base architecture for the AI build-out, moving toward a place where the entire AI ecosystem runs on Nvidia's systems.

"The part that people don't see about our growth because we're practically singular because of the nature of how we deliver products. I mean we're the only company in the world that creates and builds, offers an entire AI factory platform, a full-stack system," Huang said on the company's second quarter earnings call. Today at 3:05 PM UTC Pras Subramanian SpaceX stock in focus as OpenAI ends Cursor access to AI models SpaceX ( SPCX ) stock is in focus on Monday after big news over the weekend concerning its AI coding tool Cursor and OpenAI ( OPAI.

PVT ). OpenAI said late Friday evening that Cursor would no longer be allowed access to its AI models. SpaceX closed its acquisition of Cursor earlier this month in a $60 billion deal.

"We notified SpaceX that we intend to wind down our contract providing OpenAI models to Cursor, with a proposed shutoff date of November 12, 2026," OpenAI said . "We are making this choice because we cannot be confident that SpaceX will use our technology within our terms of service, based on our experience with Elon Musk's companies violating contracts. " Despite the decision, SpaceX stock was higher in early trading.

Read more. Today at 2:55 PM UTC Grace O'Donnell Apple stock falls on Tim Cook's last day as CEO Apple ( AAPL ) stock declined 1. 5% in early trading on Monday as the iPhone maker transitions to a new leader for the first time in 15 years.

It’s CEO Tim Cook’s last day in that role before he hands the reins to senior vice president of hardware engineering John Ternus. Cook’s tenure was very good for Apple investors: He grew the company’s market value from $350 billion in 2011 to more than $4 trillion today. Yahoo Finance tech editor Dan Howley reports on the succession plan and Cook’s legacy: Cook will stay on at Apple as its executive chair and "assist with certain aspects of the company, including engaging with policymakers around the world," the company said in a statement.

During his time as CEO, Cook oversaw the launch of a variety of new products, including the Apple Watch, AirPods, and, more recently, the MacBook Neo. He's also been instrumental in increasing Apple's Services segment revenue to more than $100 billion, the company's second-largest business behind the iPhone. Steve Jobs hired Cook in 1998 and promoted him to executive vice president of worldwide sales in 2002, before appointing him to COO in 2005.

He later took over as CEO from Jobs in 2011. Read more.