Apple’s AI Capex Rises to $680B as Foldable iPhone Faces Months-Long Delay
Members of the Magnificent Seven, including Apple, have collectively lost $1.1 trillion in market cap as investors question the payoff of a combined $680 billion AI capex leap for 2026. Separately, Apple’s foldable iPhone project faces engineering setbacks that could push launch and initial shipments back by several months.
1. Magnificent Seven Stocks Shed $1.1 Trillion
Members of the Magnificent Seven, including Apple, now account for a combined market capitalization of $19.54 trillion yet have collectively lost $1.1 trillion in 2026 as their performance lags the S&P 500. Investors are voicing concerns over a planned $680 billion leap in AI capital expenditures for 2026—a 70% increase from last year—and the impact of new debt issuances on profit margins.
2. Foldable iPhone Engineering Setback
Apple’s foldable iPhone project is encountering complex engineering challenges during testing that are delaying production and could push first shipments back by several months. The company’s emphasis on quality and durability reflects lessons from early foldable devices, but the delay may temper near-term revenue growth expectations tied to this new product category.