The Goldman Sachs Strategic Factor Allocation Fund initiated a fresh position in Apple, acquiring 251,607 shares valued at roughly $64 million. This marks one of the largest new institutional bets on the company in recent months. The move follows Goldman Sachs’ bullish stance ahead of Apple’s January 29 earnings release, where analysts anticipate continued strength in iPhone sales and services revenue. Such a sizable purchase by a prominent fund may signal growing conviction among large asset managers that the current pullback presents a compelling entry point for long-term investors.

While some institutions are adding to their holdings, others have pared back. City Holding Co. reduced its stake by 5.4%, selling 5,642 shares and ending the quarter with just under 100,000 shares—approximately $25.4 million at the time of the filing—making Apple its fourth-largest position. Similarly, Bigelow Investment Advisors cut its position by 13.7%, trimming 4,349 shares to hold 27,346 shares valued at $7 million. These adjustments suggest a cautious stance among certain active managers, who may be reallocating capital to capture short-term opportunities elsewhere or to lock in gains ahead of earnings.

Consensus forecasts for Apple’s fiscal first quarter point to revenue of roughly $137 billion, up about 10.5% year-over-year, and earnings per share near $2.67, an increase of approximately 11%. Investors will focus on unit sales trends in Greater China, average selling price shifts in the flagship smartphone line, and margins in the high-margin services segment. With average analyst price targets clustering around $285 and a wide range from $250 to $350, the upcoming report could catalyze significant share-price swings depending on whether Apple meets, exceeds, or falls short of these expectations.

In a notable development for Apple’s hardware production, Pegatron—the Taiwanese assembler responsible for a significant portion of iPhone output—is on track to finalize its first U.S. facility by the end of March, with trial production to follow shortly thereafter. This milestone enhances Apple’s supply-chain diversification strategy, potentially mitigating future tariff risks and logistical bottlenecks. Increased onshore manufacturing capacity may also provide Apple with greater flexibility to respond to demand surges and geopolitical uncertainties in the year ahead.