In today’s fast-paced tech market, nothing is certain. Even NVIDIA’s seemingly stable stock took a hit on Monday, experiencing a $589 billion market cap decline after China-based DeepSeek raised questions about the efficiency of AI models.

However, Apple’s stock has remained steady ahead of its first quarter earnings report, set to be released after Thursday’s closing bell. Despite a slight dip as DeepSeek gained attention, Apple’s shares rebounded by 7% almost immediately. This could be due to the perception that the company lags behind rivals like Google and Microsoft in AI investments, which may not be as closely tied to the success or failure of generative AI.

DeepSeek has sparked significant interest, with the White House evaluating its potential impact on national security. The current administration’s stance on Apple’s China ambitions is also uncertain, although Apple is taking proactive steps. In 2025, CEO Tim Cook announced a $1 million personal donation to the then-President-elect’s inaugural committee, a move that contrasts with fellow tech CEOs who have expressed support for the reelection of a president considered business-friendly by Wall Street.

The administration’s historically adversarial relationship with big tech has also been highlighted by Vice President JD Vance, who described it as having “too much power.” This adds to the uncertainty surrounding Apple’s future under the new administration.

As Apple prepares to report its first quarter earnings, the company must outline a clear strategy for AI, iPhone sales in China, and its broader future under the new administration. For the first time in a long time, this future is uncertain, and Apple’s ability to navigate this volatility will be crucial.