NEW YORK, Jan 2, 2026, 09:34 ET — Regular session
- Apple shares rose 0.45% to $273.08 shortly after the open, after ending 2025 at $271.86. StockAnalysis
- Raymond James resumed coverage with a neutral “market perform” rating, citing valuation and limited near-term catalysts, Investor’s Business Daily reported. Investors
- Investors are looking to next week’s U.S. jobs report and other January data for clues on the Federal Reserve’s rate path. Reuters
Apple shares (AAPL.O) edged higher in early trading on Friday after Raymond James resumed coverage with a neutral rating, arguing the iPhone maker’s valuation leaves little room for near-term upside. StockAnalysis
The call lands as Wall Street starts the first full session of 2026 with a heavy macro calendar and a market still searching for direction after a choppy year-end. Mega-cap tech stocks like Apple can sway broad indexes because of their outsized weight. Reuters
Rate expectations matter for Apple now because investors tend to pay higher multiples for long-duration growth stocks when interest rates are falling, and demand evidence of earnings momentum when yields rise. Traders are also positioning ahead of Apple’s next results later this month. Reuters
Apple was up 0.45% at $273.08 in early trade, after opening at $272.26 and moving between $271.97 and $273.31, Stock Analysis data showed. The prior close was $271.86. StockAnalysis
Raymond James resumed coverage with a “market perform” rating — Wall Street shorthand for a neutral stance — and pointed to a “stretched” valuation and a lack of near-term catalysts, Investor’s Business Daily reported. The note flagged Apple Intelligence, the company’s AI branding, as a longer-dated driver rather than an immediate lift, the report said. Investors
At current levels, Apple trades around 36.6 times trailing earnings and carries a market value of about $4.0 trillion, based on Stock Analysis figures — metrics that can amplify reactions to any shift in growth expectations. StockAnalysis
The broader backdrop improved into Friday’s open, with U.S. stock futures pointing higher before the bell as investors returned after the New Year’s Day holiday and tech shares steadied, Reuters reported. Reuters
“The market is looking for direction,” Matthew Maley, chief market strategist at Miller Tabak, told Reuters, describing the setup heading into a data-heavy January. Reuters
What investors watch next starts with labor-market and inflation signals that can reset expectations for rate cuts. The monthly U.S. jobs report due Jan. 9 is the first major test, and it follows a period when softer labor data helped give the Fed “good cover” to reduce rates, Eric Kuby of North Star Investment Management said in the Reuters report. Reuters
Inflation data and earnings season arrive close behind. The U.S. consumer price index is due Jan. 13, and major banks including JPMorgan are scheduled to kick off results that week, Reuters said — a tone-setter for risk appetite that tends to spill over into high-valuation megacaps. Reuters
For Apple specifically, the next key catalyst is its earnings report scheduled for Jan. 29, with investors focused on iPhone demand trends, services growth, and any signs that AI features translate into upgrades and spending. StockAnalysis
In the meantime, Apple’s early move suggests investors are willing to add risk at the margin, but the stock’s premium multiple leaves little cushion if macro data revives fears of sticky inflation or a slower economy — the kind of shift that can pressure tech leaders first. Reuters
