Apple Hits Record $316 as Investors Flee AI Capex Boom

Apple shares reached an all-time high of $316.22 on July 10, positioning the stock as a defensive hedge against surging AI infrastructure spending by peers. The rally follows a sharp June selloff triggered by 90-95% DRAM price spikes, with shares rebounding on renewed enthusiasm for Apple’s restrained AI strategy and pricing power. Momentum built from July 3 when Apple closed within 4% of Nvidia’s market cap, bolstered by strong March-quarter results and a July 30 earnings catalyst. Despite peak 27% net margins and a 37x P/E, analysts warn of rising memory costs and fresh App Store regulatory risks in Europe and India.