Apple’s Relative Strength Index tumbled from 69.03 on February 6 to 39.59 by February 13, marking a 29-point swing into oversold territory that historically precedes near-term bounces. Over the same week, shares fell 8%, trading 10% below the $292.15 average analyst target after closing at $255.78 on February 13.

Expected delays in the Apple Intelligence 2.0 launch may push the rollout past March as multi-phase testing continues, with a full Siri overhaul deferred until fall 2026. At the same time, a new contract with Kioxia will double NAND flash prices in Q1 2026 and institute quarterly repricing, signaling persistent component cost inflation.

Despite short-term headwinds, 29 of 47 analysts rate the stock Buy or Strong Buy, maintaining a $292.15 average target implying 10% upside. Apple reported $143.76 billion in revenue last quarter, $85.27 billion in iPhone sales, $30.01 billion in services and $42.10 billion in net income, while returning nearly $32 billion to shareholders and surpassing 2.5 billion active devices installed.

Key upside catalysts include a technical rebound from oversold readings and successful delivery of delayed AI features by summer, which could narrow the gap to analyst targets. Risks include extended AI delays beyond fall 2026, margin pressure from sustained memory cost inflation, and intensified competition from AI incumbents, all of which could keep the stock range-bound.