New York, Jan 14, 2026, 16:05 EST — After-hours
- Apple shares dipped roughly 0.5% on Wednesday, slipping just a bit less than the broader Nasdaq decline
- Traders are assessing Apple’s AI strategy following its choice of Google’s Gemini to power a redesigned Siri set for launch in 2026
- Apple’s earnings report on Jan. 29 will be the next key event, focusing on how iPhone sales and services perform.
Apple shares dipped Wednesday amid another wave of selling in megacap tech stocks, pushing investors to reconsider the stock’s high valuation ahead of a crucial earnings report and significant AI-related expectations.
Apple slipped $1.18, around 0.5%, to $259.87. Shares fluctuated from $256.91 up to $261.72, putting its market cap near $3.0 trillion.
Why it matters now: Traders are stepping back from the top tech stocks after a solid rally, shifting focus as economic reports and initial big-bank earnings steer money into defensive plays. Apple often follows this broader trend, even if the news is specific to the company.
U.S. stocks slipped Wednesday, with the Nasdaq taking the brunt as tech shares gave back gains. “After a nice run … you’re seeing profit-taking and consolidation,” noted Michael O’Rourke, chief market strategist at JonesTrading. 1
Apple’s play centers on leaning more heavily on outside partners to speed up its AI efforts. The company confirmed this week that its existing ChatGPT integration remains unchanged, despite signing on to use Google’s Gemini models for a revamped Siri set to launch later this year.
Google, without revealing the financial details, announced that Apple selected Gemini following a “careful evaluation.” These models are set to drive upcoming Apple Intelligence features. Parth Talsania, CEO of Equisights Research, noted the move “pushes OpenAI into a more supporting role.” 2
For equity investors, that framing is crucial. Siri now stands as a test case for whether Apple can transform AI into a fresh upgrade cycle, instead of it being just another add-on to waning hardware sales.
Some traders worry the Gemini setup might introduce friction. Leaning more on a competitor’s platform owner could undermine Apple’s claim of controlling privacy, performance, and product direction from start to finish.
There’s a risk here, too: if Apple’s updated Siri rolls out late, fails to excite users, or prompts compromises on data privacy, investors might start seeing AI investments as a hit to margins rather than a boost to revenue. A slowdown in iPhone sales around midyear would only make that worse.
Apple is gearing up for its next major event: earnings. The tech giant will release fiscal first-quarter numbers on Thursday, Jan. 29, followed by a conference call at 5:00 p.m. ET. 3
