Apple (AAPL) Stock Stays Steady While AI Spending Fears Hammer Rivals
TLDR
- AAPL is up 14% year-to-date and trading around $309.90, outperforming volatile chip and AI-heavy tech stocks
- Apple’s lower exposure to AI infrastructure spending is seen as a key reason for its relative stability
- New Mac mini and Mac Studio models launch with M6 and M5 Ultra chips, with base prices starting at $899
- Wall Street holds a Moderate Buy consensus with an average price target of $336.63, implying around 9% upside
- Apple reported Q3 EPS of $2.02, beating estimates of $1.89, with revenue up 16.4% year-over-year
Apple (AAPL) stock opened at $309.90 on Wednesday and is up 14% year-to-date, even as many of its tech peers have seen sharp swings in recent sessions.
The stock is trading well below its 52-week high of $344.57 but comfortably above its low of $224.69. Its 50-day moving average sits at $311.12, and the 200-day at $287.69.
One factor helping AAPL hold its ground is its relatively light exposure to the AI infrastructure spending race. Unlike Alphabet, Amazon, and Microsoft, Apple is not pouring billions into data center buildout at the same pace.
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