New York, Jan 15, 2026, 16:21 EST — After-hours
- Apple shares dropped roughly 0.7% following a warning from India’s competition watchdog that it plans to move forward with an antitrust case
- A coalition of women’s and advocacy groups pressed Apple and Google to remove X and Grok from their app stores
- Investors are turning their attention to India’s court schedule and Apple’s quarterly earnings set for later this month
Apple Inc shares slipped roughly 0.7% to $258.32 in after-hours trading Thursday, following a Reuters report that India’s competition authority has issued a final warning to the iPhone maker in an ongoing antitrust probe over its app store. 1
India’s Competition Commission warned it will move forward “unilaterally” if Apple fails to respond by next week, citing repeated delays. Apple has expressed concern over potential fines reaching $38 billion if penalties are based on “global turnover,” or worldwide revenue. The Delhi High Court is set to revisit Apple’s related challenge on Jan. 27, the report said. 1
The battle is crucial since Apple’s App Store rules and commissions are core to its services strategy, a segment investors rely on when hardware sales slow. India, a vital growth market for Apple, would feel the impact deeply if app store terms were forcibly altered.
Tensions around the company’s gatekeeper role reignited Wednesday, as a coalition of women’s groups and tech watchdogs called on Apple and Alphabet’s Google to pull X and its Grok chatbot from their app stores. The demand stems from concerns over sexually explicit AI-generated images. “We are really imploring Apple and Google to take this extremely seriously,” Jenna Sherman, campaign director at UltraViolet, told Reuters. 2
Investors are growing less tolerant of sky-high tech valuations, with market leadership finally spreading beyond just a few mega-cap giants. “There is a lot of hope … some true broadening of leadership,” said Angelo Kourkafas, senior global investment strategist at Edward Jones, in a Reuters report on the change. 3
U.S. stocks closed up Thursday, boosted by a surge in chipmakers following robust earnings from Taiwan Semiconductor Manufacturing Co. This helped steady broader risk appetite, despite mixed performances among some major tech names. 4
Apple’s immediate outlook is being pulled by a familiar set of challenges: regulatory pressures on the App Store, renewed questions about its marketplace policies, and investors growing more cautious about the price they’re paying for growth.
The risk is clear-cut. Stricter regulatory measures might trigger expensive fixes or compel fee cuts, slowing service growth. Meanwhile, a drawn-out legal battle would extend the cloud of uncertainty.
Traders are focused on what comes next in India’s case and if Apple will finally respond. They’re also keeping an eye on potential follow-ups linked to app store enforcement involving X and Grok.
Apple will release its quarterly earnings on Jan. 29. Investors want insights on demand patterns and the services outlook amid rising legal and regulatory scrutiny. 5
