Apple Inc. (AAPL) shares showed tentative signs of stabilization in Friday's premarket, rising 0.1% to $262.03. This minor gain follows a significant 5% sell-off on Thursday that lopped approximately $200 billion from the tech giant's market capitalization, marking its worst single-day performance in nearly a year.
AI Hurdles and Regulatory Pressure
The steep decline was fueled by dual concerns. A Bloomberg report indicated Apple is facing internal challenges with its planned, more personalized Siri overhaul, potentially delaying some features originally slated for a March release with iOS 26.4. Concurrently, regulatory pressure mounted as Federal Trade Commission Chairman Andrew Ferguson sent a warning letter to CEO Tim Cook regarding Apple News, suggesting the company's conduct could violate the FTC Act if it doesn't align with consumer expectations.
Market Context and Legal Win
Apple's retreat contributed to broader market weakness on Thursday, souring risk sentiment as investors grow increasingly discerning about which companies can monetize artificial intelligence investments. In a positive development, Apple secured a legal victory late Thursday when a U.S. jury ruled in its favor in a long-running 4G wireless patent case brought by Optis Wireless.
Attention now shifts to the U.S. January Consumer Price Index (CPI) report, due at 8:30 a.m. ET. Economists forecast a 0.3% monthly increase for both headline and core CPI, matching December's pace. A hotter-than-expected print could pressure bond yields and technology stocks anew.
Despite the recent sell-off, some analysts remain constructive. Evercore ISI maintains an Outperform rating with a $330 price target, suggesting upcoming Apple Intelligence features may be rolled out in phases. The company also demonstrated resilience in a challenging market, with Counterpoint Research data showing iPhone sales in China grew 8% year-over-year in January, making it the only major brand to expand in a period where overall smartphone sales fell 23%.
