Apple sales surge 16% on ‘staggering’ iPhone demand. Software stocks enter bear market.

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  • Apple reported fiscal first-quarter earnings on Thursday that surpassed expectations, with revenue soaring 16% on an annual basis.
  • The company reported $42.1 billion in net income, or $2.84 per share, versus $36.33 billion, or $2.40 per share, in the year-ago period.
  • Apple saw particularly strong results in China, including Taiwan and Hong Kong. Sales in the region surged 38% during the quarter to $25.53 billion.

https://www.cnbc.com/2026/01/29/apple-aapl-earnings-report-q1-2026.html

  • Investors question whether AI competitors and automation tools could erode demand for traditional software licenses and workflows.
  • The concern about the AI threat outweighed solid earnings from bellwether names like ServiceNow.
  • The iShares Expanded Tech-Software Sector ETF is now down about 22% from its recent high, pushing the software industry into bear-market territory.

https://www.cnbc.com/2026/01/29/software-stocks-enter-bear-market-on-ai-disruption-fear-with-servicenow-plunging-11percent-thursday.html

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