Apple Stock Hits Record High Then Retreats Amid U.S. Market Crash

Apple (AAPL) reached a record $354.50 per share on November 4, pushing its market value to $5.08 trillion and overtaking Nvidia as the world's most valuable company. The rally followed the U.S. midterm elections, as investors rotated from AI hardware stocks to Apple's lighter AI spending. However, during Thursday's market crash, the Nasdaq fell 5.52% and Apple retreated about 1.5% to around $344, showing its safe-haven status is only relative. Apple's fiscal Q4 earnings showed revenue of $114.5 billion and EPS of $2.10, but gross margin guidance disappointed.