Apple Surges Amid Shift in AI Market Focus

For years, Apple has been considered the slowest mover in the AI space among major U.S. tech giants.

In 2023, Microsoft, Google, and Meta launched large models, AI assistants, and enterprise-level products, accelerating the competition. Meanwhile, Apple didn't release Apple Intelligence until June 2024, and delayed the new version of Siri, which was originally scheduled for 2025.

This 'slowness' once made Apple's stock price underperform U.S. tech stocks. In 2025, the Nasdaq 100 ETF rose by 20.77%, while Apple's increase was only 9.05%. However, from June 30 to July 30, Apple's share price increased by 15.2%, outperforming Meta and Alphabet, ranking second only to Microsoft among large-cap U.S. tech stocks.

Apple's non-capital-burning strategy allows it to avoid a full-scale computing power race, concentrating resources on positions closest to end-users. Its AI infrastructure investments are re-evaluated by the capital market, which is shifting focus from computing power scale to return on capital.