New York, Jan 31, 2026, 09:33 EST — Market closed.
Apple shares ended Friday up 1.20, or 0.46%, at $259.48, having swung between $252.18 and $261.90 during the session. After-hours trading saw the stock dip 0.19% to $258.99.
The move came after Apple delivered a strong outlook that refocused attention on the iPhone cycle. The company projected March-quarter revenue growth of 13% to 16%, beating the 10% rise analysts expected, according to LSEG data. Tim Cook described demand for the newest iPhones as “staggering” in a Reuters interview. eMarketer analyst Jacob Bourne flagged potential margin pressure from memory shortages and said that the momentum in services would be “even more vital.” reuters.com
Why it matters now: Apple’s latest guidance hit a market jittery over whether big tech can maintain spending while growing, and if inflation is finally denting consumer demand. Wall Street’s key indexes closed lower Friday, following Donald Trump’s nomination of Kevin Warsh to replace Jerome Powell as Fed chair. Strategist Michael Hans at Citizens Wealth said investors are still “calibrating” to the move. reuters.com
Apple, based in Cupertino, reported a 16% jump in quarterly revenue to $143.8 billion, with earnings per share climbing to $2.84. CEO Tim Cook hailed the iPhone’s “best-ever quarter.” CFO Kevan Parekh revealed the company pulled in nearly $54 billion in operating cash flow and returned close to $32 billion to shareholders. The board approved a $0.26-per-share dividend, payable Feb. 12 to shareholders of record on Feb. 9. apple.com
A quarterly filing revealed Apple bought back 93 million shares, spending $25.0 billion in the quarter ending Dec. 27, 2025. The report noted the buyback plan has no minimum repurchase requirement.
Apple revealed it has snapped up Q.ai, an Israeli audio-AI startup, in a deal worth roughly $1.6 billion, according to a source close to the matter. Johny Srouji, Apple’s hardware technologies chief, described Q.ai as “pioneering new and creative ways” to harness imaging and machine learning. The move supports Apple’s push to embed more AI features into devices like AirPods. reuters.com
But the good news on iPhone sales comes with a catch. Apple has pointed to rising memory costs, while South Korean chip giants Samsung Electronics and SK Hynix have cautioned that PC and smartphone makers may feel the squeeze from tighter DRAM supplies as production pivots toward more lucrative AI memory. Research firms IDC and Counterpoint now forecast global smartphone sales will drop by at least 2% this year, with the PC market also forecast to shrink.
As U.S. markets reopen Monday, investors can also note Apple’s annual shareholder meeting scheduled for Feb. 24 at 8:00 a.m. Pacific time. The event will be held virtually.
After Apple, all eyes turn to the January U.S. employment report, set for release on Feb. 6 at 8:30 a.m. ET, per the U.S. Bureau of Labor Statistics schedule.
