Apple becomes a Wall Street safe haven amid fears over AI spending
Apple shares are up 27% this year and are the biggest contributor to the S&P 500's 12% gain, as well as the best performer among the Magnificent Seven. According to Bloomberg, the company has largely stayed on the sidelines of the heavy AI infrastructure spending by Microsoft, Amazon, Alphabet and Meta, and its correlation with the chip index is negative. On Thursday it was the only Magnificent Seven stock to close higher while the broader market fell.
In 40 seconds
- Apple is up 27% this year and leads performance among the Magnificent Seven, versus 8% in 2025.
- Its lower exposure to AI infrastructure spending makes it a haven for investors, according to portfolio managers cited by Bloomberg.
- Its 40-day correlation with the chip index has been negative since early July, the most extreme level in data going back to 1994.
Read the full story at Bloomberg Línea
IASummary generated by artificial intelligence from a story by Bloomberg Línea. It may contain errors: the original source prevails.
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