Apple Stock: Record High Fuels AI Development Push

Apple's stock reached an unprecedented peak of $250.80 on Thursday, marking a significant milestone in its recent upward trajectory. While the share price slightly retreated to $246 by the session's close, this movement represents a decisive breakthrough from months of lateral trading patterns. The tech giant's impressive 28 percent gain this year has propelled its market capitalization to $3.75 trillion, further cementing its dominance in the technology sector and edging closer to the remarkable $4 trillion valuation threshold.

Strategic AI Partnership

In a significant development for its artificial intelligence initiatives, Apple has formed a strategic collaboration with Broadcom to develop specialized AI server chips. This partnership has generated positive market sentiment, with Broadcom's stock surging 6.89 percent to $183.65, leading gains in the Nasdaq 100. The semiconductor manufacturer's involvement in this venture highlights its growing significance in the AI sector, reflected in its substantial 63 percent year-to-date stock appreciation and current market value of $847 billion.