Since January 1, 2026, Apple (AAPL) stock has experienced a notable decline, dropping from around $272 on the first trading day to approximately $249 as of January 22, 2026—a roughly 8.5% loss in just three weeks. This marks a continuation of weakness from late 2025, extending a seven-week losing streak that saw shares fall about 11% prior to the new year.
The pullback appears driven by broader market pressures on mega-cap tech stocks, concerns over slowing iPhone demand amid rising memory chip costs, and profit-taking after Apple’s all-time highs in December 2025 (peaking near $288). Trading volume spiked on down days, such as over 80 million shares on January 20 when the stock dropped 3.5%, signaling increased selling pressure.
Despite the short-term weakness, sentiment remains cautiously optimistic ahead of Apple’s fiscal Q1 2026 earnings release on January 29. Analysts expect double-digit growth in both revenue and EPS (consensus $2.65), fueled by strong services revenue and potential AI-driven iPhone upgrades. Firms like Evercore and Citi forecast beats on iPhone sales, while the consensus 12-month price target sits near $288, implying over 15% upside from current levels.
Technically, AAPL has found some support around $245–$248 but remains below its 50-day moving average. A strong earnings report could catalyze a rebound toward $260–$270, while disappointment risks further downside to $230.
Overall, the January dip presents a potential buying opportunity for long-term investors betting on Apple’s ecosystem strength and AI initiatives, though near-term volatility is likely until earnings clarity emerges.