New York, January 20, 2026, 16:17 EST — After-hours
- After a volatile session, Apple shares fell roughly 3.4% in after-hours trading.
- A wide U.S. selloff, sparked by new tariff threats, slammed megacap tech stocks.
- Evercore ISI placed Apple on its tactical list just before the company reports earnings on Jan. 29.
Apple Inc shares dropped 3.4% to $246.71 in after-hours trading Tuesday, sliding as low as $243.54 earlier. The stock had opened at $252.90 and briefly hit $254.76.
All three major U.S. indexes tumbled after President Donald Trump threatened new tariffs related to Greenland, stirring fresh worries about market turbulence. The S&P 500 dropped 2.04%, while the Nasdaq slid 2.38%, Reuters reported. Jamie Cox, managing partner at Harris Financial Group, said, “I’m not at the point yet” to call it a correction. Investors now brace for a packed week of data, including the Personal Consumption Expenditures report—the Fed’s go-to inflation gauge—and earnings from key players like Intel and Netflix. Reuters
Apple is set to release its fiscal first-quarter results on Jan. 29, offering a snapshot of holiday iPhone sales and services growth. The earnings call will kick off at 2 p.m. PT (5 p.m. ET).
Evercore ISI has bumped Apple onto its Tactical Outperform list, maintaining an Outperform rating with a $330 price target, citing “near-term upside to street estimates,” according to a note featured on Investing.com. Analyst Amit Daryanani projects revenues and EPS at $140.5B and 2.71, respectively—beating the street’s $137.4B and 2.67. He highlighted “robust iPhone demand + minimal memory cost headwind” from his checks. The firm expects iPhone revenue to climb 17% year-over-year, services revenue to rise 13%, and gross margin to hover around 47.6%. Evercore called Apple its “top pick for CY26.” Investing.com
Apple’s drop followed a slump in the “Magnificent Seven” megacaps, where names like Nvidia, Alphabet, and Tesla also took hits amid renewed tariff concerns shaking the tech sector. These giants heavily influence the Nasdaq, so their moves can sharply swing the index. Investopedia
Apple bulls face a clear dilemma: positive channel checks and rising estimates are running up against a market that’s pulling back risk before seeking clarity. Following Tuesday’s slide, traders will be watching to see if the stock can stay above the day’s lows once regular trading kicks off Wednesday.
Yet these checks can be deceptive, and one quarter hardly settles the larger argument. Should iPhone demand drop off more quickly than anticipated, or if component prices rise sharply, Apple could find it tough to protect its margins and justify its premium valuation.
The Jan. 29 report will zero in on iPhone revenue, services growth, and any shifts in management’s comments on demand, pricing, and costs. Tariff news and inflation figures might still influence the vibe heading into that release.
The next major event to watch is the earnings release and conference call scheduled for Jan. 29.
