From 24/7 Wall St. · Vandita Jadeja · · 1m
Chips Drop as Apple Hits New High
Apple's stock climbs while chipmakers fall, splitting AI trade.
In brief
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. Originally reported by 24/7 Wall St..
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.
The big picture
Apple's stock rose 2.11% in a week as semiconductor stocks dropped 13.31% amid AI trade split.
