New York, Jan 8, 2026, 09:34 EST — Regular session
- Apple shares down 0.8% in early trade, lagging recent megacap churn
- Apple and JPMorgan say Chase will become the new Apple Card issuer in about 24 months
- Focus turns to Friday’s U.S. jobs report and Apple’s Jan. 29 earnings call
Apple (AAPL.O) shares slid 0.8% to $260.33 in early trading on Thursday. The stock closed at $262.32 on Wednesday.
The move keeps attention on Apple’s services and payments push, a piece of the story that tends to matter more when hardware demand looks harder to read. Investors have also started treating big-tech leadership as less stable than it looked a few months ago.
The broader tape was cautious ahead of Friday’s U.S. nonfarm payrolls report, after data this week pointed to slower hiring even as layoffs stayed relatively low. “Both data points ended up pointing to a softening in the job picture,” Sam Stovall, chief investment strategist at CFRA Research, said. Alphabet (GOOGL.O) overtook Apple in market value on Wednesday for the first time since 2019, a reminder that the market’s pecking order can change quickly. 1
Apple and Chase said Chase will become the new issuer of Apple Card, with a transition expected in about 24 months, and Mastercard will remain the payment network. “We’re incredibly proud of how Apple Card has transformed the credit card experience for customers,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. JPMorgan said the portfolio is estimated to bring over $20 billion of card balances to the Chase platform and that it expects a $2.2 billion provision for credit losses — money set aside for potential loan defaults — tied to the forward purchase commitment. 2
The agreement still needs regulatory approval and is not expected to close for roughly two years. Goldman CEO David Solomon said the deal “substantially completes the narrowing of our focus in our consumer business,” as the bank continues to unwind its retail push. Goldman also said the transaction is expected to add about 46 cents per share to its fourth-quarter 2025 earnings, mainly due to the release of $2.48 billion in loan-loss reserves, partly offset by a $2.26 billion hit to net revenue. 3
Apple’s next checkpoint is earnings, where investors typically press on iPhone demand and the pace of services growth. The company last reported quarterly revenue of $102.5 billion, up 8% year over year, with diluted earnings per share of $1.85, and said services revenue reached a new all-time high. 4
But the Apple Card handoff is a long runway, and delays or surprises on credit losses could complicate a transition that still has to clear regulators. Apple has said there will be no immediate changes for cardholders, and key features such as cash-back rewards and the high-yield savings account linked to the card will remain. 5
Next for traders is Friday’s U.S. jobs report, then Apple’s quarterly conference call on Jan. 29 at 5 p.m. ET. Any shift in tone on consumer spending and services momentum is likely to drive the next leg for AAPL. 6
