Trump's AI lunch included every major tech company. Except Apple

Impact · against what's priced in

Apple faces near-term margin pressure from the administration's refusal to license Chinese memory chips, though its absence from the AI safety pact simply confirms a lower-capex strategy the market is already treating as a hedge. For other megacaps, the White House accord reinforces their status as frontier AI leaders, but this is largely expected by the market.

AAPL−0.40

Challenges what's priced in

The price assumes