Apple Defies Big Tech Weakness
Nov 2, 2026
It's Benzinga bringing Wall Street to Main Street.
Apple stock is outperforming its magnificent seven peers
as investors favor the company
amid concerns over artificial intelligence spending,
according to Benzinga.
Shares ended last week at $344, just below its all-time high of $350
and about 41% above its lowest level this year.
The Roundhill Magnificent 7 ETF has fallen more than 8.25%
from its yearly peak,
declining for three consecutive weeks
as major holdings including Nvidia,
Alphabet and Amazon slipped.
Apple has overtaken Nvidia as the world's most valuable company,
with a market capitalization exceeding $5 trillion.
Unlike other technology giants,
Apple has limited spending on AI infrastructure
while maintaining strong free cash flow.
JPMorgan raised its price target to $360,
while options activity suggests traders favor
further gains, and Bernstein
and Evercore maintained their outperform ratings.
The company reports earnings Monday.
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