Record AI capex and Apple as the Mag 7 outlier
US AI-related investment hit a record while Apple is the only Mag 7 stock beating the S&P, helped by avoiding the AI spending binge.
What we know
Kobeissi Letter reports $1.77T in US information processing equipment and software investment, the largest quarterly increase since Q4 1983. Bilello says Apple's free cash flow and light AI capex explain its outperformance.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.