NEW YORK, Jan 29, 2026, 09:32 ET — Regular session underway.
- Apple shares slipped roughly 0.7% in early trading as investors await earnings set to drop after the bell
- Investors are gearing up for holiday-quarter iPhone sales and watching closely for any margin pressures caused by climbing memory costs
- Updates on Apple’s overhaul of Siri, powered by Google, remain a crucial swing factor
Apple shares dipped in early U.S. trading Thursday as investors braced for the iPhone maker’s quarterly earnings released after the bell. Focus remains on holiday-quarter iPhone sales and the expenses tied to crucial components.
The report drops just as Big Tech stocks hover near all-time highs, with investors on edge over whether massive AI investments will deliver. The Federal Reserve’s decision to keep rates unchanged adds to the unease. Reuters
Apple slipped roughly 0.7% to $256.44, following a close of $258.31 on Wednesday. Over the past year, it has trailed behind several mega-cap rivals, with investors favoring AI-focused names.
Analysts polled by LSEG expect Apple to deliver its best iPhone sales growth in four years, fueled by strong demand for the premium Pro models—especially across China and emerging markets.
Investors are eager for specifics on Apple’s rollout of new “Apple Intelligence” features, powered by Alphabet’s Google Gemini tech, which will include an updated Siri. Reuters
“Thanks to its distribution, Apple can probably generate a positive return on very little AI investment,” said Gerrit Smit, manager of the Stonehage Fleming Global Best Ideas Equity fund.
Apple’s installed base tops two billion active devices, giving it a major edge if users begin relying on phones as the gateway to AI tools.
The figures are hefty. Total revenue is forecast to jump 11.4% to a record $138.43 billion, boosted by a 14.1% increase in services. iPhone sales are projected to climb 13.8%, according to LSEG data.
China remains the pivotal market. Data from Visible Alpha, referenced by Reuters, indicates Greater China sales probably surged around 15%. Meanwhile, market researcher Counterpoint projects Apple’s global smartphone share will rise to 20% in 2025, up from 18% in 2024.
Costs remain the main concern. A global squeeze on memory chips is driving prices up, with Samsung Electronics flagging worsening shortages on Thursday as AI demand tightens supply further. One of Samsung’s memory executives warned that a “significant shortage of memory products” is likely to persist. Reuters
Regulatory pressure is mounting too. Apple’s services segment, especially the App Store, is under renewed examination in Europe for its payment methods. Any move toward stricter enforcement could hit this key high-margin revenue driver.
Apple could see its stock dip even if iPhone sales beat expectations, especially if it flags margin pressure from rising parts costs. Another risk: a cautious forecast for the current quarter, should management sense demand easing after the holiday rush.
Here’s the straightforward part: Apple reports after the market closes Thursday. Investors will zero in on guidance, watch for comments on memory costs, and look for details about the timing and scale of the Siri update linked to Google’s AI.
