Apple's strong performance (up >30%) is due to low AI capex preserving short-term profits.

Again, you can see how things were before, but now look at the post-change category at the second largest investment, Apple. For me, this was interesting, and I've noticed that Apple is performing very well this year.

But when I looked deeper into the matter, I found that Apple is actually quietly shining this year. Its shares have risen by more than 30% during the year.

It should be remembered that one of the most important factors here is that Apple decided not to spend huge sums like the rest of the " Big Seven" (Mag 7) companies in terms of capital expenditures for artificial intelligence.

This is very good in the short term for investors in a particular company, because they care more about what the profits look like quarter by quarter, i.e., in the short term. Therefore, if Apple isn't pumping a lot of money into expenses, it's not cutting into its net profits, which means its profits would be slightly higher.