New York, Feb 4, 2026, 10:45 EST — Regular session
- Apple shares climbed roughly 2.5% in morning trading, recovering some losses from a weaker session earlier.
- Goldman Sachs highlighted stronger-than-expected App Store spending growth in January and maintained its $330 price target.
- Following an AI-fueled selloff in software stocks, investors are still jittery, keeping a close watch on mega-cap tech.
Apple Inc shares climbed 2.5%, hitting $276.15 in early trading Wednesday. The stock fluctuated between $269.49 and $278.80, opening at $272.33 before gaining $6.67 by the latest update.
The bounce is crucial since Apple, valued around $4 trillion, can move the major U.S. indexes all by itself. After a dip in software and cloud stocks, Wall Street is searching for firmer ground. Attention has shifted back to the “Magnificent Seven” mega-cap tech giants as Alphabet prepares to report after the bell, with Amazon set to follow on Thursday. “Strong earnings support the market’s valuations,” said Sean Clark, chief investment officer at Clark Capital. Reuters
The backdrop is chaotic. Investors have been slashing valuations on software and data stocks since Anthropic rolled out new plug-ins for its Claude Cowork agent, sparking worries that AI could disrupt existing business models. IG strategist Chris Beauchamp bluntly described it as Anthropic “parking its tanks on their lawn.” Reuters
Apple slipped 0.2% to close at $269.48 on Tuesday, following a 4.1% surge Monday. The shares have been volatile since last week’s earnings, with traders rapidly reacting to every signal on iPhone sales and Services. Yahoo Finance
Goldman Sachs maintained its buy rating and a $330 price target, citing a boost in App Store spending in January. According to the bank’s data, App Store spending rose roughly 7% year over year, with the drop in games slowing and entertainment spending picking up speed. Investing.com
Apple projected March-quarter revenue growth between 13% and 16% last week, following holiday-quarter revenue of $143.8 billion and earnings per share of $2.84. CEO Tim Cook described iPhone demand as “staggering,” though he cautioned that a worldwide memory-chip shortage might squeeze margins as early as this quarter. Reuters
The company announced a quarterly cash dividend of $0.26 per share, set for payment on Feb. 12 to shareholders recorded by Feb. 9. That date marks the deadline for investors to appear on the shareholder list and qualify for the dividend. Apple
But these drivers behind Services growth carry some baggage. Reuters noted regulators in Europe are digging into App Store payment rules. Plus, limited memory-chip supply might push costs higher. Gerrit Smit, who manages the Stonehage Fleming Global Best Ideas Equity fund, said, “Apple can probably generate a positive return on very little AI investment, thanks to its distribution.” Reuters
Investors are gearing up for Apple’s annual meeting on Feb. 24 at 8:00 a.m. PT, which will be held virtually. The event is expected to shed light on governance proposals and shareholder priorities as spring approaches. Apple Investor Relations
