Apple Hits Record High as Citi Raises Price Target to $365 on AI Spending Edge

AAPL stock climbed to a fresh all-time high. It managed to rally, which has seen the stock gain about 17% over the last 10 trading sessions while adding close to $688 billion to the company’s market capitalization. The move has pushed Apple’s value toward $4.7 trillion. This highlighted its position as one of the world’s most valuable listed companies.
Unlike rivals including Microsoft, Meta, Amazon, and Alphabet, Apple has avoided an aggressive AI spending race. While those companies continue investing heavily in data centers and AI infrastructure, Apple’s more measured approach has helped preserve its free cash flow and operating margins.
This hasn’t come at the expense of growth. Apple’s latest quarterly results showed Services revenue reached another record. This was supported by continued strength across subscriptions and digital offerings. The iPhone business has also remained more resilient than many analysts expected despite concerns over slowing consumer demand.