The decline in Apple’s share price comes ahead of its first-quarter 2026 earnings expected on Jan. 29.
- Analysts expect the company to report $138.49 billion in quarterly revenue, up 11.5% from the $124.26 billion reported in the same period last year, according to data from Fiscal.ai.
- However, Citi analyst Atif Malik lowered the price target on Apple to $315 from $330 with a ‘Buy’ rating on the shares, according to TheFly.
- Meanwhile, Evercore ISI added Apple to its ‘Tactical Outperform’ list and reiterated that the tech giant remains the analyst's "Top Pick for CY26."
Shares of Apple Inc. (AAPL) dipped over 4% on Tuesday, the most in nine months. The decline in share price comes ahead of the tech giant’s first-quarter (Q1) 2026 earnings expected on Jan. 29 and amid rising memory chip costs and geopolitical tensions.
Despite the sell-off, retail traders remain bullish on the stock, with some sounding calls to “buy the dip”.
Meanwhile, Citi lowered its price target on Apple even as Evercore ISI added the company to its "Tactical Outperform" list ahead of earnings.
Earnings Expectations
Analysts expect the company to report $138.49 billion in quarterly revenue, up 11.5% from the $124.26 billion reported in the same period last year, according to data from Fiscal.ai. Meanwhile, consensus estimates for earnings per share for the quarter are at $2.66, up from $2.35 last year.
However, Citi analyst Atif Malik lowered the price target on Apple to $315 from $330 with a ‘Buy’ rating on the shares, according to TheFly. The analyst said that while it expects Apple to report a December quarter beat and in-line March quarter outlook, the reduced estimates reflect higher memory component pricing risk.
Malik added that the firm still likes the company for its advanced Siri and iPhone 18 foldable product cycles.
Evercore ISI, however, echoed a positive sentiment on Apple’s shares ahead of its earnings, telling investors that checks suggest that there's near-term upside to Street estimates. The firm also said that it was adding Apple to its ‘Tactical Outperform’ list and reiterated that the tech giant remains the analyst's "Top Pick for CY26."
Evercore said that it views Apple as well-positioned to sustain mid-to-high single-digit top-line growth and double-digit EPS growth, driven by a strong product refresh cycle. The analyst has a price target of $330 on shares, representing an upside of about 34% compared to the current price. Evercore has an ‘Outperform’ rating on the company’s shares.
How Did Stocktwits Users React?
On Stocktwits, retail traders remained ‘bullish’ on AAPL shares over the past 24 hours amid ‘high’ message volumes.
According to a Stocktwits Poll, 33% of users expect Apple’s stock to pullback first as the base case as big tech earnings are underway and volatility is picking up, while 26% of users expect a slow grind higher.
One bullish user waved off the dip as ‘a classic drop’ just before tech earnings.
Another bullish investor echoed the sentiment of buying the dip.
Meanwhile, one bearish user warned of high geopolitical risk that could cause the stock to drop more. Apple has been facing negative consequences of President Donald Trump’s global trade tariffs.
Shares of AAPL have gained nearly 10% in the past year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
