Apple shares are up 15% since their worst trading day in more than a year, adding nearly $600 billion in value since June 25 and sending the stock back to an all-time high (via Bloomberg).
The rebound comes as investors worry about the staggering amounts of money continually being pumped into building AI data centers, although there are no obvious indicators of when investors will see a return on their investment.
Apple’s decision not to invest in data centers and instead pay Google for access to its cutting-edge AI models is increasingly seen by marketers as an asset rather than a liability. Apple is using Google’s Gemini to support the revamped Siri and new Apple Intelligence features across its platforms.
Apple’s presentation at WWDC last month of AI features coming to iOS 27 and macOS Golden Gate initially sent the stock lower, but it has since rebounded impressively.
The rally came despite Apple facing pressure from soaring memory chip costs, prompting the company to raise prices for Macs, iPads and its home devices on June 25. It was the move that triggered the company’s worst one-day stock decline since April 2025, with shares closing at $275.15. Apple’s iPhone models have been spared similar price hikes, but the company has hinted that further increases could follow.
Investors are also viewing Apple’s next foldable iPhone, due in September, as a potential catalyst, according to Bloomberg. Nikkei reported earlier this month that Apple had asked its suppliers to prepare for around 10 million units this year, up from a previous forecast of seven to eight million.
Apple shares are now up 16% in 2026, making it the best performer among the “Magnificent Seven,” which includes Microsoft, Amazon, Alphabet, Meta, Nvidia and Tesla. AAPL closed at $315.32 on Friday, just below its all-time high of $317.40 set in early June.
In the coming days, Woozad will speak with a leading technology commentator about whether Apple’s decision to avoid the AI data center arms race is actually becoming a strategic advantage.
