Why did Apple Stock Hit an All-Time High Amid US Stock Market Crash?

Apple shares touched a record $354.50 on Nov. 4 and later slipped about 1.5% on Thursday to around $344, while the Nasdaq Composite fell 5.52%. The earlier rally followed Democratic wins in both chambers of Congress in the midterm elections, which investors read as gridlock, and a rotation out of AI hardware names on fears of new data-center limits; Apple’s lighter AI spending made it a relative haven. Its market value rose to $5.08 trillion, overtaking Nvidia at $4.83 trillion. During Thursday’s tech selloff, Nvidia fell 9%, Broadcom 10%, and the Magnificent Seven lost close to $900 billion heading into the final hour, while Apple shed nearly $59 billion and remained up about 26% year to date.