NEW YORK, December 29, 2025, 09:41 ET — Regular session
- Apple shares down about 0.2% in early trade as investors trim mega-cap tech into year-end
- Markets eye Federal Reserve minutes and jobless claims in a holiday-thinned week
- Wells Fargo reiterates an Overweight rating, citing China shipment data as an iPhone demand proxy
Apple shares edged lower in early New York trading on Monday, slipping about 0.2% to $273.40.
The pullback comes as heavyweight technology stocks give back some ground after last week’s gains pushed the S&P 500 to fresh highs and left it within about 1% of the 7,000 mark, Reuters reported. 1
Why it matters now: trading volumes are expected to be light in the holiday-affected week, with U.S. markets shut on Thursday for New Year’s Day. Some investors had been looking for a “Santa Claus rally” — a seasonal tendency for stocks to rise in late December and early January — but early moves on Monday pointed to profit-taking instead. 1
Rate-cut expectations remain a key driver for growth stocks such as Apple, where lower yields can support higher valuations. “We’re not seeing runaway inflation risk as a base case,” Fidelity International multi-asset portfolio manager Becky Qin said. 2
The Fed cut its main policy rate this month, and money markets are pricing two more quarter-point cuts by September, Reuters reported. 2
On the stock-specific front, Wells Fargo analyst Aaron Rakers reiterated an “Overweight” rating on Apple and kept a $300 price target, StreetInsider reported. “Overweight” is Wall Street shorthand for expecting a stock to outperform its sector or benchmark. 3
Rakers pointed to recent China industry figures that investors watch as a read-through on iPhone demand. Data from the China Academy of Information and Communications Technology (CAICT), released on Dec. 25, showed shipments of foreign-branded phones in China rose 128.4% year-on-year in November. 4
Foreign-branded shipments totaled 6.93 million units, while overall phone shipments rose 1.9% to 30.16 million units, according to Reuters calculations from the CAICT release. Investors often treat that foreign-brand category as a rough proxy for iPhone momentum in China. 4
Beyond Apple, traders were also watching broader weakness across tech and AI-linked names after last week’s run, Reuters said, a dynamic that can sway Apple because of its outsized weight in major indexes. 1
Macro data could set the tone for the rest of the week. Investors are focused on the minutes from the Fed’s latest meeting — the detailed account of the central bank’s policy discussion — due on Tuesday, Reuters reported. 2
A weekly reading on U.S. jobless claims is also on the radar, in an otherwise data-light week, Reuters said. Both releases can move Treasury yields, which often steer appetite for long-duration growth stocks such as Apple. 1
The next big company test is Apple’s holiday-quarter report, typically its most important earnings release. Wall Street Horizon forecasts an unconfirmed earnings date of Jan. 29 after the market close, based on Apple’s historical reporting pattern. 5
For now, Apple’s shares were holding just below $274 after opening at $274.10. Investors are watching whether the stock can stay firm around the $270 area into the turn of the year as liquidity thins.
