$Apple(AAPL.US) is the only Magnificent 7 stock in the green today, and it is trading above its record closeShares are u…

$Apple(AAPL.US) is the only Magnificent 7 stock in the green today, and it is trading above its record close

Shares are up about 0.7% near $346, above Wednesday's all-time closing high of $343.99, per Yahoo Finance data

Every other member is red. $Meta Platforms(META.US) is down 8%, $Amazon(AMZN.US) 5%, $NVIDIA(NVDA.US) 4.4%, $Alphabet(GOOGL.US) 3.4%, $Tesla(TSLA.US) 2.6% and $Microsoft(MSFT.US) 2.1%

The Nasdaq 100 is down 3%, on pace for its worst day since June

Per Yahoo Finance, $Apple(AAPL.US), $Eli Lilly(LLY.US) and $Walmart(WMT.US) have added more than $400 billion in market value since chip stocks peaked in early October, while $Meta Platforms(META.US), $Alphabet(GOOGL.US) and $SpaceX(SPCX.US) have lost nearly twice that

The dividing line is AI spending. $Meta Platforms(META.US) just narrowed its capex plan to $135 billion to $145 billion and created a new class of nonvoting shares it can sell to raise money

For two years the knock on $Apple(AAPL.US) was that it was behind in AI. Now that the bill for the buildout is coming due, not spending $100 billion+ a year on data centers is starting to look like the feature, and Apple has become where money hides inside Big Tech

Source: StockMarket.News