NEW YORK, January 7, 2026, 15:49 EST — Regular session
- Apple slips in afternoon trade as investors weigh higher component costs and a split tape in megacap tech.
- Evercore stayed bullish with a $325 target, while Raymond James warned valuation caps near-term upside.
- Next catalysts include Friday’s U.S. jobs report and Apple’s results later this month.
Apple shares fell 0.6% to $260.78 in afternoon trading on Wednesday, sliding to a session low. Evercore analyst Amit Daryanani stuck with a $325 target — about 25% above that level — even as he pointed to a projected 40%-50% jump in NAND flash and DRAM memory prices in early 2026, Barron’s reported. 1
The move matters because Apple remains a bellwether for big U.S. tech, and its next earnings report is close enough to shape positioning. Investors want proof the company can defend margins while selling expensive hardware into a more selective consumer.
Alphabet rose 2.3% and Nvidia gained about 1.0% on Wednesday, while Dell slid 3.5% as device makers weighed the same cost backdrop. The split is feeding a familiar question: which megacaps get paid for AI, and which ones see it show up as higher bills.
Raymond James analyst Srini Pajjuri, who resumed coverage earlier this month with a Market Perform rating, warned that the stock’s valuation leaves limited room for error. “Apple’s current valuation appropriately reflects these strengths, limiting near-term upside,” he wrote. 2
For the near-term Apple stock price forecast, technicians are watching the $260 area after a run of declines since year-end. Shares are down about 4% from the Dec. 31 close and roughly 10% below the Dec. 3 intraday high of $288.62, price data show. A break under $260 could expose the mid-$250s, while a bounce would put the $267-$270 zone back in play. 3
Macro data are also in the mix: Wednesday’s ADP report showed U.S. private payrolls rose by 41,000 in December, well short of forecasts. The Labor Department’s schedule shows the Employment Situation report is due at 8:30 a.m. EST on Jan. 9, with December CPI set for Jan. 13, while the Federal Reserve meets Jan. 27-28. 4
But the margin math can turn quickly if memory prices climb and Apple has to choose between absorbing the cost and raising prices. NAND is the storage that holds apps and photos, while DRAM is short-term working memory; industry watchers have said DRAM increases of more than 50% may be needed just to secure supply. 5
The next clear catalyst is Apple’s fiscal first-quarter results on Jan. 29, when it will hold a conference call at 2 p.m. PT (5 p.m. ET). Investors will listen for guidance on gross margin, services growth and any hint of how component costs filter into the outlook. 6
