00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple stock is outperforming its Magnificent Seven peers as investors favor the company amid
00:08concerns over artificial intelligence spending, according to Benzinga.
00:12Shares ended last week at $344, just below its all-time high of $350 and about 41% above its
00:21lowest level this year. The Roundhill Magnificent Seven ETF has fallen more than 8.25% from its
00:28yearly peak, declining for three consecutive weeks as major holdings, including NVIDIA,
00:34Alphabet, and Amazon, slipped. Apple has overtaken NVIDIA as the world's most valuable company,
00:40with a market capitalization exceeding $5 trillion. Unlike other technology giants,
00:46Apple has limited spending on AI infrastructure while maintaining strong free cash flow.
00:52JP Morgan raised its price target to $360, while options activity suggests traders
00:58favor further gains, and Bernstein and Evercore maintained their outperform ratings.
01:03The company reports earnings Monday.
01:05For all things money, visit Benzinga.com.
Comments