Morgan Stanley says the recent AI sell-off was mainly technical and driven by profit-taking; after the pullback the AI supply chain still offers an attractive risk/reward. The bank expects AI compute demand to outstrip supply over the next several years and is bullish on AI capability gains, applications and related long-term capex growth.

美国总统特朗普：希望避免攻击电厂和桥梁。

On Monday Apple (AAPL.O) closed above NVIDIA (NVDA.O) to become the world's most valuable company for the first time since April 2025. NVIDIA slid nearly 5%, cutting its market value to $4.77 tln as investor concerns over large AI infrastructure spending hit the AI-chip sector. Apple rose about 1% to a $4.95 tln market cap; it is scheduled to report quarterly results after the close on Thursday. NVIDIA had held the top spot since overtaking Microsoft in June 2025 and briefly reached $5 tln last October. Year-to-date through 2026, NVIDIA is up ~4% while Apple has gained ~24%, with investors favoring Apple's more cautious AI capex stance and preference for leasing compute over building owned infrastructure.