Apple's earnings report will test the logic of the "AI safe-haven trade," with high valuations and margin pressure becoming the focus of attention.

Odaily Planet Daily News Apple will release its earnings report after the US stock market closes on Thursday. The market will focus on whether it can continue its strong performance as a beneficiary of the "Anti-capex AI Trade" (AI safe-haven trade). So far this year, Apple's stock price has cumulatively risen by 24%, the best performer among the "Magnificent Seven," and has repeatedly broken through the $5 trillion market capitalization mark.

Analysts believe that investors, concerned about the return on massive AI capital expenditures, are instead allocating to Apple, which has relatively lower capital expenditures. However, Apple's current forward 12-month P/E ratio has risen to approximately 35 times, a new high since 2008. Meanwhile, factors such as rising memory chip costs and pressure on profit margins may become key points of focus in this earnings report. (Bloomberg)