Apple Stock Hits Record Territory as Traders Sour on AI Spending

Apple's stock has surged back to record levels, rising 15 percent since its lowest point in over a year, adding nearly $600 billion to its market value. This impressive rebound is occurring as investors become increasingly skeptical about the vast sums being spent on AI data centers, with no clear signs of imminent returns. Apple's decision to avoid joining the AI spending frenzy has been a key factor in its stock's resurgence, signaling a shift in investor sentiment towards more conservative tech strategies.