Apple shares bucked the trend of a broad technology sector sell-off, posting gains while high-flying artificial intelligence stocks such as Nvidia and Palantir Technologies faltered. The iPhone maker saw a modest increase on Thursday (Friday AEDT), mirroring Tuesday’s session where Apple advanced even as the Nasdaq 100 Index declined significantly. Over the past month, Apple has risen more than 5 per cent, outperforming the tech-heavy index, which is up less than 0.5 per cent. Apple designs, develops, and sells consumer electronics, computer software, and online services. Its flagship products include the iPhone, iPad, and Mac.
Around 3.15pm in New York, Apple shares were up 0.5 per cent to $US271.54. This performance marks a return to form for Apple, whose strong cash flow and stable balance sheet have historically shielded it from market volatility. While the stock has generally underperformed the broader market this year as investors pursued AI opportunities, its inherent strengths are now attracting renewed interest.
According to Jack Ablin, chief investment strategist at Cresset Wealth Advisors, the shift reflects waning enthusiasm for more speculative names that have become overvalued. He noted that in a risk-averse environment, investors are increasingly drawn to Apple’s predictable cash flow, stability, and overall resilience.
The Nasdaq 100 was heading for its third loss of at least 1 per cent in the last six sessions, driven by concerns that AI profits remain distant despite increased borrowing to fund necessary spending. Nvidia dropped nearly 3 per cent, Palantir lost almost 6 per cent, and Advanced Micro Devices fell more than 6 per cent after Wednesday’s results raised concerns about profit margins. Apple’s resurgence follows a positive forecast last week, offsetting weaker trends in China. The company generated approximately $US27.5 billion in net earnings last quarter on revenue of $US102.5 billion.
