Apple Stock Hits Record Territory as Traders Sour on AI Spending‎

Apple shares have rallied 15 percent since their worst day on the stock market in more than a year, adding almost $600 billion in value since June 25 and returning the stock to record territory (via Bloomberg). The rebound comes as investors grow uneasy about the mind-boggling sums of cash continually being poured into the AI data center buildout, despite there being no obvious indicator for when investors will get a return on their investment. Apple's decision to sit out the data center spending spree and instead pay Google for access to its frontier AI models is being increasingly seen by traders as an asset rather than a liability. Apple is using Google's Gemini to underpin the revamped version of Siri and new Apple Intelligence features across its platforms. Apple's WWDC presentation last month of upcoming AI features in iOS 27 and macOS Golden Gate initially sent the stock lower, but it has since rebounded in impressive fashion. The rally has occurred in spit of the fact that Apple is facing pressure from soaring memory chip costs, which was what prompted the company to raise prices on Macs, iPads, and its Home devices on June 25. That was the move that triggered the company's worst single-day stock drop since April 2025, with shares closing at $275.15. Apple's iPhone models were spared similar price hikes, but the company has hinted that further increases could follow. Investors are also viewing Apple's upcoming foldable iPhone, expected in September, as a potential catalyst, according to Bloomberg. Nikkei reported earlier this month that Apple told suppliers to prepare for around 10 million units this year, up from a prior forecast of seven to eight million. Apple shares are now up 16 percent in 2026, making it the best performer among the "Magnificent Seven" tech giants, which includes Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla. AAPL closed at $315.32 on Friday, just shy of its all-time high of $317.40 set in early June. In the coming days, MacRumors will be speaking with a prominent technology commentator about whether Apple's decision to avoid the AI data-center arms race is actually becoming a strategic advantage. Stay tuned.Tag: BloombergThis article, "Apple Stock Hits Record Territory as Traders Sour on AI Spending" first appeared on MacRumors.comDiscuss this article in our forums