During the trading session on Friday, Apple shares increased by about one percent, reaching an intraday high of $360.80. This brought the market worth of the business to more than $5.2 trillion. As a result of investors shifting their focus away from businesses that are vulnerable to the AI infrastructure expansion, the stock has benefited.
Apple has managed to avoid becoming involved in the expensive artificial intelligence arms race, despite the fact that several of its Magnificent Seven competitors are committed to building out their AI infrastructure. A recent research by analysts referred to Apple as a “safe haven” and reaffirmed their outperform rating on the company. Additionally, the report included a price target of $380, which indicates an approximately 7% increase from Thursday’s closing price.
