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Apple stock is on a continuing losing streak, but Evercore remains bullish

MacDailyNews

Jan 9

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Analysts at Evercore ISI suggest that investors, who have turned bearish on Apple stock at the start of 2026, should reconsider their stance ahead of the company’s quarterly earnings report later this month.

Apple shares declined 0.5% to $259.04 on Thursday, marking a seventh consecutive losing session dating back to December 30. While the pullback has been moderate — down 5.4% over that span — uch prolonged weakness is atypical for the stock.

According to Dow Jones Market Data, this represents Apple’s longest losing streak since an eight-day decline in May. Should the shares close lower on Friday, it would extend to the longest downturn since 1991. In early trading, the stock was down an additional 0.9%.

Nate Wolf for Barron’s:
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“Analysts at Evercore think there are factors that could turn the stock around in the near term. The firm reiterated an Outperform rating for Apple shares and nudged its price target to $330 from $325 in a research note Friday, citing strong revenue and earnings estimates for the quarter ended in December.
Apple reports those results on Jan. 29.
“Our checks coupled with industry data points suggest that there is near-term upside to AAPL estimates driven by robust iPhone demand + minimal memory cost headwind,” wrote analysts led by Amit Daryanani.
On the demand side, Apple had told investors to expect 10% to 12% revenue growth last quarter. That would be its first double-digit growth quarter since fiscal 2022, but Evercore expects that the company outperformed even those lofty expectations. The firm sees strong demand across North America, China, and India, with only modest weakness in Europe.
“Demand has also skewed towards the higher-end models,” Daryanani wrote.

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MacDailyNews Take: Fortuitous entry point ahead of earnings.

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