Apple's stock price bucked the trend last week, with its total market capitalization surpassing $5 trillion for the first time, and its two-month rolling correlation with the Nasdaq 100 Index turning negative for the first time. Market analysts believe this reflects deep-seated doubts about the high-capex AI investment path, as well as a shift of funds toward Apple's "AI-light" defensive tech assets.

Melius analyst Ben Reitzes noted that Apple is "the market's prime example of rewarding low capex and model-agnostic AI approaches," maintaining a Buy rating with a price target of $370. However, Jefferies analyst Edison Lee believes that pre-orders for Apple's foldable iPhone, the iPhone Duo, have not exceeded expectations, and that delivery delays may be attributed to lower production yields, maintaining an Underperform rating with a price target of $263.66. KeyBanc analyst Brandon Nispel also expressed concern over declining consumer upgrade intent, maintaining an Underweight rating with a price target of $250.

Apple will hold its "Pro and tell" event on October 28, where it is expected to unveil its first touchscreen MacBook.