New York, Jan 24, 2026, 09:47 EST — Market closed
- Apple kicks off a week packed with Fed moves and earnings reports, with investors zeroing in on demand trends coming out of China
- A Delhi High Court hearing scheduled for Jan. 27 introduces regulatory uncertainty ahead of the earnings announcement
- Traders are closely tracking if megacap tech can live up to its lofty valuations this earnings season
Apple Inc (AAPL.O) faces two key developments ahead of the next U.S. session: a brief China promotion kicking off this weekend and an upcoming court hearing in India linked to an antitrust investigation, with earnings just around the corner.
The stakes this week go well beyond Apple. A Federal Reserve meeting looms alongside a flood of earnings from the “Magnificent Seven” — the top U.S. tech giants that have buoyed major indexes. PNC’s Yung-Yu Ma described the last few days as a “short but steep roller-coaster ride,” while Franklin Templeton’s Chris Galipeau summed it up bluntly: “earnings are the driver.” Reuters
Friday’s action highlighted how fast sentiment shifts. The Dow dropped 0.58%, while the Nasdaq eked out a 0.28% gain, dragged down by Intel’s sharp selloff after a weak outlook dampened risk appetite. Julian McManus from Janus Henderson described tech as entering a “show-me period,” where firms need to “put up the revenue growth.” Reuters
Apple shares ended Friday slightly lower, slipping 0.12% to close at $248.04. The stock began the session at $247.32 and fluctuated between a low of $244.68 and a high of $249.41. Volume hit roughly 41.7 million shares traded.
Apple announced discounts of up to 1,000 yuan ($143.60) on select iPhone, Mac, iPad, and Apple Watch models in China, valid from Jan. 24 to Jan. 27. The offer specifically excludes the newest iPhone 17, the company said.
Apple has filed a request with the Delhi High Court to block the Competition Commission of India from accessing its global financial records amid an inquiry into App Store practices, according to court documents. The company warns it could face fines up to $38 billion if the regulator applies a global turnover metric—essentially its worldwide revenue—under disputed penalty rules. The court is set to hear the case on Jan. 27.
Supply-chain and production shifts have returned to the spotlight. Apple supplier Pegatron announced its first U.S. factory, located in Texas, should be finished by the end of March, with trial production kicking off either then or in April. “The U.S. plant is our first factory established and operated in the United States,” CEO Kuang-Chih Cheng said. Reuters
Macro factors might overshadow company-specific news. The Fed’s policy committee convenes Jan. 27-28, and markets are on alert for any tweaks to the rate outlook that could swiftly reshape valuations for growth stocks.
Apple will hold its fiscal first-quarter earnings call on Jan. 29 at 5 p.m. ET. The report comes after U.S. markets close, meaning investors will digest the news during the following day’s trading session.
Investors will zero in on one key point: the tone around iPhone demand during the holiday quarter. They’ll also watch for signs on whether China will require deeper discounts to boost sales, and if Services can sustain growth enough to balance out fluctuations in hardware.
Investors will also zero in on guidance. Any careful wording around pricing, competition from China, or possible compliance and legal expenses is more likely to hit the stock price before it appears in the headline figures.
But the situation works both ways. Discounts might keep volumes steady but will tighten margins. If India takes a tougher stance, regulators could feel encouraged, increasing the risk of remedies targeting the App Store. A Fed shock or fresh geopolitical upheaval could knock megacap tech stocks hard, forcing a scramble for answers.
Apple shares return to normal trading on Monday, Jan. 26. The schedule is packed: India’s hearing on Jan. 27, the Fed’s decision on Jan. 28, followed by Apple’s earnings report and call on Jan. 29.
