NEW YORK, January 4, 2026, 06:20 ET — Market closed
- Apple shares last traded at $271.01, down about 0.3% in Friday’s session.
- Raymond James restarted coverage with a neutral “Market Perform” rating, flagging valuation.
- Traders are looking ahead to U.S. labor data next week and Apple’s late-January earnings window.
Apple Inc shares slipped about 0.3% to $271.01 on Friday after Raymond James restarted coverage with a neutral view on valuation. U.S. markets are closed on Sunday, leaving Apple last seen trading between $269.12 and $277.69 on roughly 37.8 million shares.
The call lands as investors reset positions for 2026, with mega-cap technology again under a microscope after last year’s run lifted valuations across the sector. Apple’s size in major indexes can amplify sentiment, even when the tape is quiet.
Rate expectations are the other moving piece. Tech stocks tend to react more sharply to changes in bond yields because more of their value rests on future earnings.
On Friday, the Dow and S&P 500 ended higher while the Nasdaq was little changed, as chipmakers rallied and heavyweights including Apple and Microsoft lagged, Reuters reported. Joe Mazzola, head of trading & derivatives strategist at Charles Schwab, called it a “buy the dip, sell the rip” market — shorthand for investors buying pullbacks and selling rallies. Reuters
Raymond James resumed coverage at “Market Perform,” a neutral rating that implies the stock should run roughly in line with the broader market. The firm pointed to a rich valuation and limited near-term catalysts, even as it acknowledged Apple’s durable ecosystem and services business.
In a separate SEC filing, Apple said its board appointed Ben Borders, 45, as principal accounting officer, effective Jan. 1, succeeding Chris Kondo under a previously announced transition plan. Borders joined Apple in 2010 and previously served as director of technical accounting, the filing showed.
The principal accounting officer is the executive responsible for day-to-day accounting and financial reporting controls. The change is typically procedural, but investors often take notice of finance leadership updates heading into results.
Friday’s range leaves traders watching the $269 area as near-term support and the $278 area as an overhead hurdle. Those levels can act as reference points for short-term positioning when the cash market reopens.
Apple’s dip also underscored the market’s early-year split inside “Big Tech,” with money rotating toward semiconductors and cyclicals while some mega-caps cooled. That rotation has been a key driver of index performance in recent sessions.
Before the next U.S. cash session opens Monday, traders will be watching for the next batch of labor-market data and any shifts in expectations for the Federal Reserve’s path. Moves in yields and the dollar can quickly feed through to how investors price high-multiple stocks.
The next major test for Apple is its quarterly report, expected on Jan. 29, with analysts looking for earnings of about $2.66 per share, according to Public.com’s earnings calendar. Investors will focus on iPhone demand, services growth and management’s outlook.
