New York, Feb 12, 2026, 10:09 EST — Regular session
- Apple dropped roughly 1% in the morning session, underperforming as U.S. indexes ticked higher.
- New numbers put Apple alone among big brands, with an increase in January smartphone sales in China.
- Friday brings the U.S. inflation report, and traders are also eyeing Apple’s annual meeting set for Feb. 24.
Apple stock dropped $3.08, off 1.1% at $272.42 in morning trading Thursday. Investors seemed to wrestle with positive signs from China demand but also a stack of cost and regulatory uncertainties clouding the iPhone maker.
This one stands out. Apple, usually a heavyweight for the whole market, slipped behind other megacaps while U.S. stocks inched up in early trading—even without much action elsewhere in tech.
China delivered at least one bright spot. Counterpoint Research reported a 23% year-on-year drop in Chinese smartphone sales for January, but Apple managed to buck the trend—its sales rose 8%, as the iPhone 17 series continued to draw buyers.
Bulls flagged new analyst coverage on Apple’s AI ambitions. Bernstein’s Mark Newman bumped his price target up to $340 from $325, citing “the bigger story will be Apple Intelligence / Siri 2.0.” He also argued Apple is in a better spot than peers to handle higher memory-component costs. Morningstar
Even so, policy signals are turning up the volume. The U.S. Federal Trade Commission, in a letter to CEO Tim Cook, flagged worries about claims Apple News gives preference to left-leaning outlets—saying such practices “may violate the FTC Act” if they run afoul of Apple’s stated policies or what users expect, according to Reuters. Reuters
Macro forces are steering rate-sensitive tech again. Investors are zeroed in on Friday, when the U.S. Labor Department releases its January consumer price index. That data has a habit of shaking up rate forecasts and shifting how equities are priced.
Headline CPI inflation is set to slow to 2.5% year-over-year for January, according to economists polled by Dow Jones Newswires and the Wall Street Journal, Investopedia said. Expectations for core inflation match that 2.5% pace, the outlet reported.
If inflation comes in higher than expected, that tends to push up bond yields, which can squeeze price-to-earnings multiples—especially for growth names trading at a premium, like Apple. Ongoing increases in component costs also have investors watching closely for any hints of margin pressure next quarter.
If Apple manages to show it’s holding onto its share in China despite the market weakness, that could give sentiment a needed boost. Investors will also be watching to see if the company can pitch its “Apple Intelligence” features as an upgrade driver.
All eyes shift to Friday’s CPI data, with Apple’s virtual annual shareholder meeting on Feb. 24 also on the radar. Investors are tuning in for possible updates on strategy, governance, and pending proposals.
