This divergence, of course, is a direct reaction of Wall Street to how it sees the unique effect of Apple in all this mess. Everyone relies on China, one way or another. But everyone else found the reason for the rally: generative AI, the power of the cloud, new products of products. And since Camp Trump uses the elusive iPhone, collected by the United States as political football, shareholders for obvious reasons on the verge. And not just the direct shareholders of Apple. Promotions of key suppliers, such as LuxShare and Goertek, have also fallen by almost 10% over the past few weeks. And since the White House appeals and delayed, only uncertainty is more than enough to continue to weigh Apple reserves than its peers. Amazon, Google, Meta, Microsoft and Nvidia are engaged in highly on the exchange and recent events oriented to artificial intelligence. To some extent, investors have a clear idea of how these companies will benefit directly from AI, whether it is cloud services, chips, developer platforms or new subscriptions. Without this impulse, Apple remains alone to fight with a heavy battle with macros headlines and geopolitical risk. WWDC is not far off, and if the courts will forever kill Trump's plan, Apple shares may rally and make up for the lost one. But now Apple is in a unique uncomfortable place: there is no narrative about AI, there is no pure way out of China and no longer love from the oval office.
