# Chips Drop as Apple Hits New High

> Apple's stock climbs while chipmakers fall, splitting AI trade.
- Title: Chips Drop as Apple Hits New High · 24/7 Wall St. | Shortify
- Summary: Apple's stock climbs while chipmakers fall, splitting AI trade. Apple's stock rose 2.11% in a week as semiconductor stocks dropped 13.31% amid AI trade split.
- Keywords: apple, semiconductors, ai trade, stock market, nvidia, microsoft, price target, siri ai, Chips, Drop, Hits, High
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/10/20/chips-are-selling-off-and-apple-just-hit-a-new-high-what-splits-the-ai-trade
- Author: Vandita Jadeja
- Published: 2026-10-20T14:00:19+00:00
- Read time: 1 min
- Topics: apple, semiconductors, ai trade, stock market, nvidia, microsoft, price target, siri ai
## Semiconductor Stocks Crater
Semiconductor stocks dropped 13.31% in a week while Apple rose 2.11%.
## Apple Hits Record High
Apple's stock trades at $342.96, up 2.11% in a week and 26.81% year to date.
## AI Trade Splits
Chipmakers get paid while hyperscalers spend on AI infrastructure.
## Apple's Growth
Apple's revenue rose 16.4% year over year last quarter with 2.5B active devices.
## Siri AI Potential
Cook said Apple is 'off the charts excited about Siri AI' with paid iCloud Plus upgrades.

> Cook said Apple is "off the charts excited about Siri AI"
## Memory Costs Risk
Memory pricing is a '100-year flood' with gross margin at risk below 47%.

> Cook called memory pricing "a 100-year flood"
## Price Target
24/7 Wall St. price target for Apple is $397.78 with 15.99% upside.
## What Splits AI Trade
Apple's earnings growth has less exposure to AI infrastructure spending than peers.
## Key takeaway

Apple's stock rose 2.11% in a week as semiconductor stocks dropped 13.31% amid AI trade split.