US Stock Market Move | Apple Inc. (AAPL.US) rises more than 2% against the trend, setting a new record high.
On Monday, amidst the decline of AI technology stocks, Apple (AAPL.US) opened against the trend with a rise of over 2%, closing at $322.37 per share, hitting a new record high, with a total market value of $4.74 trillion.
On Monday, amidst the decline of AI technology stocks, Apple Inc. (AAPL.US) opened against the trend, rising over 2% to $322.37 per share, hitting a record high and reaching a total market value of $4.74 trillion. Concerns over spending on artificial intelligence have dragged down the stocks of chip manufacturers and cloud computing giants, leading investors to shift back towards Apple Inc. The turnaround of this stock reflects the growing unease in the market about the return on investment of high AI spending, with Apple Inc.'s decision not to participate in the data center arms race increasingly being seen as an asset rather than a liability, despite its AI products repeatedly frustrating investors.
Mark Brongo, Chief Investment Strategist at Rye Strategic Partners, said, "There is a game going on in the market, and Apple Inc. is benefiting from it now because it is not involved in the storm in other AI exchanges." "People are worried about what kind of return mega-corporations can get from their AI spending, while some believe that the semiconductor sector has risen too much. As a result, investors are rushing back to Apple Inc., seeing it as a safe choice that avoids these risks."
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