Every year I see this on some but not all of my apple/cherry/peach trees. It doesn't kill them but certainly can't be healthy. Even adjacent trees of the same variety may or may not be affected. The leaves look distorted and turn pinkish then white where infected.

It looks like peach leaf curl fungus but I didn't ever get it on my apple trees but have seen something similar on my cherry trees.

Thanks, I might be misremembering the apple. I will apply fungicide.

That’s fungus taphrina deformans and if you don’t spray preventive then is very hard to get rid of it. I’m start spraying the peach trees with SCORE 250 EC (Difenoconazole) when the first flush starts.
If you see similar symptoms on apple tree that is caused by rosy leaf curling aphids.
Never see cherry leaves with similar symptoms.

Good luck!

That's Peach Leaf Curl. It's a fungus. Spraying now will not do anything. You need to apply when the tree is dormant or when it first starts to push new buds in the spring, maybe twice then depending on weather conditions.

Or you can just deal with it- it shouldn't kill the tree but will affect growth and fruit production.

See link for more information-

http://www.ipm.ucdavis.edu/PMG/PESTNOTES/pn7426.html