Apple Stock Hits Record as Nasdaq Falls 5.52% in Market Selloff

Apple (AAPL) hit a record $354.50 on November 4 before falling about 1.5% Thursday, as the Nasdaq dropped 5.52%. The rally followed Democrats’ midterm-election wins and a rotation from AI hardware toward Apple’s lighter AI spending, according to BeInCrypto. Apple’s market value reached $5.08 trillion, overtaking Nvidia’s $4.83 trillion, while Thursday’s selloff erased nearly $59 billion from Apple and close to $900 billion from the Magnificent Seven. The stock remains up about 26% year to date, though investors are weighing rising memory costs and a 45% to 46% December-quarter gross-margin outlook.