Data from J.P. Morgan Equity Strategy shows that since July 2025 individual investors have sold a net 4 billion dollars of Apple shares, making it the only member of the Magnificent 7 to record cumulative outflows over that period. This trend accelerated through the second half of 2025 and into January 2026 as market volatility rose. By contrast, other mega-cap names saw strong retail inflows, highlighting a rotation away from Apple toward higher-beta and AI-linked stocks. Investors have cited concerns about Apple’s slowing revenue trajectory, maturing product lines and limited near-term AI monetization opportunities.

Bender Robert & Associates trimmed its Apple position by 2.5 percent during the third quarter, reducing its holdings by 7,593 shares to 291,005 shares, which still represents 16 percent of its total portfolio. City Holding Co. cut its exposure by 5.4 percent, selling 5,642 shares to finish the period with 99,754 shares. Bigelow Investment Advisors reduced its stake by 13.7 percent, selling 4,349 shares to hold 27,346 shares at quarter end. Collectively, these adjustments reflect a cautious stance among some institutional managers as they reallocate toward other technology names and rebalance risk ahead of Apple’s upcoming earnings report.

Most sell-side firms maintain a Positive or Buy view on Apple, with recent target price increases reflecting optimism around stronger iPhone 17 demand and continued expansion of high-margin Services revenue. Forecasts suggest approximately 82 million iPhone units sold in the fiscal first quarter, raising the likelihood of both revenue and EPS beats when results are released after market close on January 29. Analysts have flagged rising component costs and geopolitical tensions in key markets as potential headwinds but expect Apple’s robust customer loyalty and buyback program to underpin the share price even if macro pressures intensify.