Apple hit an all-time high after skipping the AI spending race
As seen on the 24/7 Wall St. homepage on October 29, 2026.
It even set an ATH right now in AHs.
Apple skipped the AI capex arms race and is hitting records anyway, and traders are now arguing over whether a 40 P/E survives next week's earnings. The thread is a clean snapshot of a crowd that is long and nervous at the same time.
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A widely upvoted r/wallstreetbets post captured a crowd that has been rewarded for holding Apple but is uneasy about how much is already priced in.
Apple sat out the capital-heavy AI infrastructure buildout that consumed competitors, published a research paper titled The Illusion of Thinking questioning whether large language models can genuinely reason, and still set an all-time high in after-hours trading.
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Commenters pointed to a price-to-earnings ratio above 40 as a sign the stock has little room for disappointment ahead of next week's earnings report.
That earnings report is the immediate catalyst to watch: at current multiples, a miss or cautious guidance on Apple Intelligence adoption moves the stock sharply, and even bulls in the comment section are bracing for volatility.
Mentioned: AAPL