Apple's financial report will test the logic of “AI safe-haven trades,” with high valuations and profit margins under close scrutiny

Odaily reports that Apple will announce its earnings after the US stock market closes on Thursday, with the market focusing on whether it can maintain its strong performance as a beneficiary of the "AI Anti-capex Trade." This year, Apple's share price has risen by 24% in total, making it the best performer among the "Magnificent Seven" tech giants and repeatedly breaking the $5 trillion market capitalization mark.

Analysts believe that investors, worried about the returns from massive AI capital expenditures, have shifted to allocating to Apple, whose capital expenditures are relatively lower. However, Apple’s forward 12-month P/E ratio has now risen to about 35 times, its highest level since 2008. Meanwhile, factors such as rising storage chip costs and pressure on profit margins may become key focuses in this earnings report. (Bloomberg)